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Insurance experts presented a gloomy forecast for anyone hoping that the cost to insure homes and businesses in Florida might stabilize or even fall anytime soon. In 2019, Florida generated 8% of all property insurance claims and 76% of lawsuits in the U.S., according to an analysis by the Florida Office of Insurance Regulation cited by Wilson.
Property insurance costs are poised to keep rising in Florida unless lawsuits decline and buildings are hardened to withstand catastrophic hurricanes, experts said Thursday at the Florida Chamber's annual Insurance Summit.
Insurance experts presented a gloomy forecast for anyone hoping that the cost to insure homes and businesses in Florida might stabilize or even fall anytime soon. In 2019, Florida generated 8% of all property insurance claims and 76% of lawsuits in the U.S., according to an analysis by the Florida Office of Insurance Regulation cited by Wilson.