In Florida, it won’t just be those with homes and businesses hit directly by Hurricane Idalia who might be stuck picking up the pieces. Thanks to a broken home insurance market, a particularly bad hurricane could spread financial fallout throughout the state, leaving residents from Pensacola to Key West stuck paying repair bills for years. [time-brightcove not-tgx=”true”] Beset by hurricanes made more severe and more frequent by climate change, as well as rampant fraud and tides of frivolous lawsuits, dozens of insurers in the state have closed up shop or stopped selling new home insurance policies in the state in recent years.
The ‘hurricane Tax’ Hitting Florida Alongside Idalia
Alejandro de la Garza, Time
Wed, 08/30/2023 - 1:47pm
Topics: hurricane idalia key west beset citizens property insurance corporation floridians&rsquo mark friedlander florida&rsquo tampa atlantic ldquo;we charles nyce florida state university there&rsquo freidlander florida citizens in insurance information institute citizens&rsquo hurricane tax private policies residents hurricanes season rates home big afford billion market stuck state’s homes years policyholders paycheck storm million left won’t pay bills homeowners pull public government company management it’s risk fraud
BING NEWS:
- Are back-to-back hurricanes dissuading Mass. snowbirds from wintering in Florida?
Snowbirding” has long been a tradition for many New Englanders looking to avoid the region’s infamous winters — but could the recent bout of hurricanes slamming Florida deter migration to the Sunshine ...
11/11/2024 - 3:50 am | View Link - IRS Gives Hurricane Idalia Victims Tax Extension To Feb. 15 + Relief
The IRS as announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business ...
08/30/2023 - 12:33 pm | View Link - More
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