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29.09.2022 / 18:07

Ian brings more damage to Florida's already unstable insurance market

TALLAHASSEE, Fla. - Florida's property insurance market was already in peril. Then came Hurricane Ian.The massive storm that barreled into southwest Florida delivering catastrophic winds, rain, and flooding is likely to further damage the insurance market in the state, which has strained under billion-dollar losses, insolvencies, and skyrocketing premiums.The scale of the storm's destruction will become more clear in the coming days, but there is concern it could exacerbate existing problems and burden a state insurance program that has already seen a sharp increase in policies as homeowners struggle to find coverage in the private market."Florida’s property insurance market was the most volatile in the U.S.

Joe Raedle state Florida city Tallahassee, state Florida city Fort Myers, state Florida crisis Waters Citizens

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