Property insurance crisis continues in Florida

We’ll Tell You Where Property insurance Action News At 5.30, Starts Now. Thanks For Joining Us Here Tonight, Everyone. From Skyrocketing Rents To Surging Grocery Prices In The Record-Setting Gas Bills.

Your Wallet?

Is Being Hit From Every Direction These Days. And Then There’s The Other Shoe That’s Dropping Economically. The Insurance Crisis.

Homeowner Seeing Their Coverage Tt geing Dropped. Others Seeing Their Rates Going Up. And Tonight, Abc Action News Reporter Wendi Lane Talking To A Local Group That Is Putting Pressure On Lawmakers To Do Their Jobs.

It’s Really Are Troubling. Time For Floridians Are Getting Bombarded From Every Direction. Weather Is Gas Prices. Most Rooms, And Now Home Insurance.

Home Insurance Rates Are Skyrocketing. Well, Insurance Companies Are Leaving The State Fed Now Is The Latest Insurance Group To Cancel A Total Of 68,000 Residential Home Insurance Policies.

They’re The 9th Property Insurance Company To Recently Dropped Tens Of Thousands Of Florida Policies. The Florida.

Private Property Insurance Market Is The Most Volatile In The U.S. Right Now. Mark Freelander With The Insurance Information Institute Says Roofing Scams And Lawsuits Are To Blame.

Florida Leads The U.S. In Property Claim Loss. Freelander Says While Other States Have Less Than 1000 Lawsuits Filed Against Insurance Companies Per Year, Florida Had Over 100,000 In 2021. Most Of Them Roofing Scams.

Companies Can Continue To Operate With Losses At That Level. And The Loss Of Insurers Is Leaving Homeowners Paying An Increase Of 30 To 40% For Insurance And Sometimes Even More.

Property insurance

We’re Seeing Many Homeowners Get Renewal Bills At 50%. 100% Or More So Much Higher Beyond That, 30 To 40% Range, Which Will Be The Average.

Political Analyst Susan Mcmanus Explains Why Leaders Are Calling An Emergency Legislative Session Next Week To Address The Issue. The Session Very Critical Because We’re Nearing Another Hurricane Season And The Projections Are That We Are Again Going To Have Plenty.And Homeowners Are Finding It Increasingly Difficult To. Get Insurance For To Be Able To Afford It.

Mcmanus Says With Elections Coming Up, It’s Important For Lawmakers To Do Something To Get This Problem Under Control. And Freelander Says While He’s Hopeful For Change, It Could Be A Year Or Years Before We See A Difference.

We’re On A Trajectory Right Now. They Have More Lawsuits Filed In 2022. Them Just Last Year We Had Over 100,000
Last Year. So We Already Have So Much Litigation, The Pipeline. It’s Going To Take A While To Get That Pipeline Under Control. Wendi Lane, Abc Action News.

Meanwhile, Today At A News Conference, Governor Ron Desantis Says That He Thinks The State Will Pass What He Called Significant Reforms. The Governor Did Not Offer Any Details, But He Did Say That Theyo Ha Dve The Framework Of A Deal In Place.

Some Lawmakers Speculate That Plan Includes Tort Reform, Which Would Change How Lawsuits Are Filed In Florida As Well As Increasing The States Catastrophe Fund. And We’ll Have Special Coverage Of Next Week’s Special Sesonsi Right Here At Abc Action News. I’ll Be Up In Tallahassee For Live Team Coverage Talking

 

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