Sunday, August 7, 2022

Inside Florida’s property insurance coverage disaster

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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?


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)

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