Despite warnings from two leading insurance rating agencies that Hurricane Milton weakened or threatened Florida’s troubled home insurance market, local experts say the market can manage losses from Milton and are ready to cover yet another hurricane, if one should come. AM Best and Fitch Ratings each issued reports last week warning that Milton could stretch liquidity of Florida-based insurers that are primarily focused on protecting in-state homeowners. “Hurricane Milton poses a significant threat to the Florida property insurers concentrated in the state that lack diversification and therefore are acutely susceptible to significant catastrophic events,” said AM Best in a news release promoting a report issued before Milton hit Florida on Oct.
Experts Say Florida Insurance Market Can Handle Another Hurricane This Year — And Stay Healthy
Ron Hurtibise, South Florida Sun-Sentinel
Sat, 10/12/2024 - 4:00am
Topics: oct it critics am best s fitch ratings paul handerhan fort lauderdale-based federal association reform so am best company related articles insurers fema extra joe petrelli demotech carriers florida s officials helene s debbie no citizens citizens property insurance corp hurricane ian hurricane catastrophe fund michael peltier ultimate locke burt ceo security first insurance nobody japanese california germany ron hurtibise twitter hurricane milton florida best am best fitch ratings hurricane the i fitch ratings handerhan handerhan as insurance so karen clark storms hurricanes ratings citizens the insurance regulation south sentinel helene hurricanes i citizens no burt experts handle year losses surplus million companies state claims season policyholders major pay financial billion coverage friday position global additional events president increase industry report office loss firm business don capital event required assessment health debby damage weaken insured cost significant buy ensure sun issued reports homeowners cover raise precarious resulting good amount demand costs rest premiums customers supply rates price respond flood happen insolvency lines payments
BING NEWS:
- Experts say Florida insurance market can handle another hurricane this year — and stay healthy
Florida insurance experts pushed back against reports that losses from Hurricane Milton threaten the solvency of the state’s property insurance market. They said insurers can weather another ...
10/12/2024 - 2:18 am | View Link - Analysis: Hurricane Milton poses 'significant threat' to troubled Florida insurance market
Hurricane Milton “poses a significant threat to the Florida property insurance market,” particularly for insurers that focus their business on the state.
10/11/2024 - 2:54 am | View Link - Florida’s insurance market is equipped to handle claims from Hurricane Milton
Mark Friedlander of the Insurance Information Institute understands some people may be fearful to file a claim but says home and flood insurance are there for times like these.
10/10/2024 - 6:27 am | View Link - How Hurricane Helene Could Impact Florida's Home Insurance Crisis
As Hurricane Helene made landfall, insurance experts are concerned about how the state's homeowners insurance crisis will be affected.
09/26/2024 - 11:54 pm | View Link - More
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