Property insurance companies drop 50,000 Florida policy holders ahead of hurricane season
Insurers facing ‘significant challenges’ due to increased litigation, devastating hurricanes in recent years
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Property insurers dropping 50,000 policyholders as hurricane season approaches
ORLANDO, Fla. – With hurricane season weeks away, three property insurance companies are dropping more than 50,000 homeowner policies in Florida and some of the policy holders have yet to be notified.
It’s the latest twist in Florida’s on-going property insurance problem.
Angela Holland said she got a notice in the mail saying her insurer was not renewing her policy.
“I haven’t filed a claim on insurance in 25 years,” she said. “When I got the letter, I had just came home from COVID, being in the hospital, and I had to deal with trying to find insurance.”
Coastal News Today | FL - As hurricane season nears, insurers seek to shed Florida property insurance policies
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Termination notices going out as hurricane season approaches
State insurance regulators are allowing three companies to cancel or not renew thousands of policies, forcing those jilted customers to find new coverage weeks before hurricane season begins. SUN SENTINEL/TNS
As another hurricane season bears down on the state, more than 50,000 Florida home insurance customers will soon receive notices that their policies have been canceled or wonât be renewed.
State insurance regulators recently authorized âextraordinaryâ terminations of thousands of policies of Florida-based insurers Universal Insurance of North America, Gulfstream Property & Casualty, and Southern Fidelity.
And the bloodletting will likely continue over the coming months with other insurers seeking to shed risky or unprofitable policies while refusing to insure older homes with roofs, electrical systems and plumbing that have not been upgraded to comply with cur
As hurricane season approaches, 3 insurers canceling thousands of Florida customers
Sun Sentinel 3 hrs ago Ron Hurtibise, South Florida Sun-Sentinel © Provided by Sun Sentinel As insurers continue to bemoan heavy claims losses and litigation costs in South and Central Florida, state insurance regulators are allowing three companies to cancel or not renew thousands of policies, forcing those jilted customers to find new coverage weeks before hurricane season begins.
As another hurricane season bears down on the state, more than 50,000 Florida home insurance customers will soon receive notices that their policies have been canceled or won’t be renewed.
State insurance regulators recently authorized “extraordinary” terminations of thousands of policies of Florida-based insurers Universal Insurance of North America, Gulfstream Property & Casualty, and Southern Fidelity.
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