Insurance | Florida

Florida's insurance market is uniquely volatile, characterized by the highest premiums in the nation—averaging over , which is triple the national average.

Massive hurricanes like Ian (2022) and Michael (2018) caused billions in property damage, leading to six insurer insolvencies in 2022 alone. insurance florida

Despite accounting for only 9% of U.S. property insurance claims, Florida is the source of 79% of the country's home insurance lawsuits . This disparity was largely driven by "Assignment of Benefits" (AOB) abuse, where contractors and law firms would encourage homeowners to file suits to inflate repair costs. property insurance claims, Florida is the source of

Recent whistleblowers have alleged that some new insurers are diverting millions in customer premiums to investors rather than holding them for future claims, heightening insolvency risks. The "Insurer of Last Resort" The "Insurer of Last Resort" A 2022 report

A 2022 report uncovered that while companies were claiming financial ruin and hiking premiums, they were simultaneously transferring hundreds of millions of dollars to out-of-state affiliates and shareholders.