Florida’s #insurance crisis is driven by a perfect storm of rising #litigation, climate risks, and #insurer pullbacks. The state has seen a surge in lawsuits, accounting for nearly 80% of the nation's property insurance claims, which increases costs for insurers. Compounding the issue, frequent hurricanes and high exposure to natural disasters make reinsurers wary of continuing business in the region. Many insurers have gone bankrupt or exited the state, forcing homeowners into the state-backed Citizens Property Insurance. While some reforms aim to stabilize the market, the challenges are far from over. Take a listen to this podcast by Bloomberg 's Odd Lot's #podcast recently put out regarding why #homeinsurance in #Florida is such a mess.
