> Steps Floridians can take if dropped by property insurance
Steps Floridians can take if dropped by property insurance
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Roughly 100,000 Floridians insured by Farmer's Insurance will soon be looking for new policies. Farmers is the latest domino to fall in the ongoing property insurance crisis in the state, and the finger-pointing from Tallahassee has already started.
"We warned early on that conditions could potentially get worse before they get better,” Mark Friedlander with the Insurance Information Institute said.
That's the only way to sum up the status of Florida’s property insurance market right now.
In the past 18 months, which saw two special legislative sessions aimed at the issue; seven insurers have gone insolvent, 15 stopped writing policies and now a fourth is leaving the state.
MORE: https://www.wtsp.com/article/news/local/florida-property-insurance/67-68384731-5186-4c71-b076-6cf552873956