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Demise of Flood Insurance Subsidies Will Impact Coastal Markets

Demise of Flood Insurance Subsidies Will Impact Coastal Markets
therealdeal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from therealdeal.com Daily Mail and Mail on Sunday newspapers.

New York , United States , Jake Holehouse , New York Times , University Of Pennsylvania Wharton School , Wharton School ,

The cost of insuring expensive waterfront homes is about to skyrocket

The cost of insuring expensive waterfront homes is about to skyrocket
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Florida's property insurance market is ailing. There is no quick fix


Updated 2 hours ago
Florida’s 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 industry’s fifth consecutive year of losses in the state and is more than two-and-a-half times what those companies lost in 2019. ....

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