Massive hurricanes like Ian (2022) and Michael (2018) caused billions in property damage, leading to six insurer insolvencies in 2022 alone.
Despite accounting for only 9% of U.S. property insurance claims, Florida is the source of 79% of the country's home insurance lawsuits . This disparity was largely driven by "Assignment of Benefits" (AOB) abuse, where contractors and law firms would encourage homeowners to file suits to inflate repair costs. insurance florida
The "deep story" of insurance in Florida is a complex saga of a market teetering on collapse, driven by a perfect storm of natural disasters, legal exploitation, and corporate maneuvers. Once a hallmark of the American dream, homeownership in the Sunshine State has become a high-stakes financial gamble. Massive hurricanes like Ian (2022) and Michael (2018)