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Many Tampa Bay-area flood insurance premiums are about to go up
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Hurricane season is here What s different for insurance this year?
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Updated 2 hours ago
Floridaâs property insurance market posted one of its worst financial performances in 2020, even without a hurricane making landfall in the Sunshine State, and policyholders are starting to pay the price.
Experts say there is no quick fix to the challenges buffeting the industry.
Fifty-six Florida insurers reported a combined $1.57 billion in underwriting losses, according to financial data obtained by the Tampa Bay Times, spending more on claims and expenses than they brought in through premiums. The figure marks the industryâs fifth consecutive year of losses in the state and is more than two-and-a-half times what those companies lost in 2019.
Florida s property insurance market is ailing There is no quick fix
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Together their shared experience marks 170 years with the company. Both Heather Pritchard and John Clarke mark 40 years, and David Holliday, Alan Threlkeld, and Michael Styth ring in 30 years of service at H&H. Marking the achievement, all received their awards from Richard Rankin Chief Executive of the H&H Group. Looking back on his four-decade long career, John Clarke from Castle Carrick said: “I have loved my time with H&H. I joined H&H in February 1968 as a temporary yard’s person helping with the calves for just one day a week. I was supposed to only help until they found someone else at Christmas, but I’m still waiting to find out which Christmas they meant!”