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In June, the Florida Office of Insurance Regulation reported Hurricane Ian resulted in more than 700,000 insurance claims statewide. Nearly 200,000 of them were closed without payment.
A U.S. government shutdown, perhaps as soon as Saturday night, will force the National Flood Insurance Program to suspend issuing of new policies,
The National Hurricane Center estimates Hurricane Ian caused $1.9 billion in damage in Florida, stressing an insurance market that was already in crisis.
"What the housing market needs now is stability and certainty," NAHB told Congress in a letter urging lawmakers to extend the National Flood Insurance Program.
Floridians are already paying higher insurance premiums than anyone else.