Insurance analysis firm Fitch Ratings said on Thursday that losses from Hurricane Milton will further weaken the “precarious position” of Florida’s property insurance market and possibly lead to “hardening” of premiums for policyholders next year. Hardening is an insurance term that means premiums could rise. Milton spawned high winds, substantial storm surge, heavy rain, tornadoes and flooding as it barreled into the state on Wednesday night.
Ratings Firm Says Milton Losses Will Further Weaken ‘precarious Position’ Of Florida Insurance Market
Ron Hurtibise, South Florida Sun-Sentinel
Thu, 10/10/2024 - 3:19pm
Topics: hardening gulf mexico brian schneider fitch ratings the florida hurricane helene u.s related articles citizens fema condo combined asked mark friedlander insurance information institute karen clark company the sun sunsentinel joe petrelli demotech inc demotech floridians while helene metro tampa barron s heritage property casualty universal insurance american coastal hci group shortly florida insurance commissioner michael yaworsky but fitch ron hurtibise south florida sun twitter fitch ratings milton florida florida s category fitch fitch s hurricane ian florida he storms hurricanes property florida-based florida losses fitch s friedlander sentinel friedlander firm weaken insurers report reinsurance year insured thursday caused catastrophe billion state events reforms financial surge earlier levels claims rate policyholders news cover lead pointed added costs flooding predicted demand programs morning damage premiums rates director expected event wind homeowners estimate
BING NEWS:
- Ratings firm says Milton losses will further weaken ‘precarious position’ of Florida insurance market
Insurance analysis firm Fitch Ratings said on Thursday that losses from Hurricane Milton will further weaken the “precarious position” of Florida’s property insurance market and possibly lead to ...
10/10/2024 - 2:57 pm | View Link - Fitch says Hurricane Milton will push 2024 insured losses over $100 billion
Hurricane Milton could cause up to $50 billion in insured losses for Florida property owners, pushing insurers' estimated losses in the state over $100 billion in 2024 alone, Fitch Ratings said in a ...
10/10/2024 - 2:29 pm | View Link - Opinion: Milton shows Florida needs unpopular insurance reform
Lawmakers in Tallahassee have made some progress addressing the industry’s crisis, but they need to do much more.
10/10/2024 - 8:52 am | View Link - Florida’s wobbly insurance market will survive Milton’s devastation, top official says
Wall Street analysts predicted the storm could cause anywhere from $50 billion to $175 billion in insured losses, Barron’s reported.
10/10/2024 - 8:28 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 - More
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