Industry insiders: A not-so-sunny outlook for Florida's property insurance market

A foursome of insurance insiders agree the industry is chaos. Consensus on other issues, from who to blame — lawyers or insurance companies or both — to how to solve it, aren’t as apparent.

The Florida insurance market, many believe, is not equipped to handle the fallout from a major storm.
The Florida insurance market, many believe, is not equipped to handle the fallout from a major storm.
  • Insurance
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There are myriad reasons why Florida faces a property insurance meltdown. Some are historical, some are situational. But the bottom line is this: Florida’s property owners are in trouble, as long-developing problems have led to rate hikes while coverage, and availability, shrink and concerns linger about how the system will do after a storm.

 

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