Sunday, August 7, 2022

Inside Florida’s property insurance coverage disaster

Must read


The Florida property insurance coverage market is in bother.

“For the final two years, the personal corporations working in Florida have had a mixed destructive web revenue of $1 billion. So, the market is basically shutting down.”

It is dangerous for owners too.

“Customers are on life help proper now. They’re … paying more cash for much less protection.”

When a market craters like that, one thing elementary has gone flawed. In Florida, it comes down to 1 factor: litigation.

“Florida has 8% of the claims and 79% of the litigation, so there’s one thing very, very flawed with that.

“And I do not suppose anybody logically may clarify that sort of differential aside from the statutes in Florida being abused.”

At the moment, On Level: Florida’s property insurance coverage meltdown. Can it’s mounted?

Friends

Mark Friedlander, director of company communications on the Insurance coverage Info Institute, a non-partisan nonprofit. (@markfri09)

Jeff Brandes, Republican Florida state senator since 2012. Creator of Senator Jeff Brandes Requires Particular Session on Insurance coverage.  (@JeffreyBrandes)





Supply hyperlink

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article