Insurance Florida -

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.

A 2022 report uncovered that while companies were claiming financial ruin and hiking premiums, they were simultaneously transferring hundreds of millions of dollars to out-of-state affiliates and shareholders.

Massive hurricanes like Ian (2022) and Michael (2018) caused billions in property damage, leading to six insurer insolvencies in 2022 alone. insurance florida

Recent whistleblowers have alleged that some new insurers are diverting millions in customer premiums to investors rather than holding them for future claims, heightening insolvency risks. The "Insurer of Last Resort"

Florida insurers rely heavily on "reinsurance" (insurance for insurance companies). As global catastrophe risks rise, these costs have skyrocketed, with some reinsurance layers doubling in price. Corporate Shell Games & Whistleblowers Despite accounting for only 9% of U

Deep-dive investigations have revealed troubling financial practices that go beyond simple "bad luck" with storms:

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. A 2022 report uncovered that while companies were

Large national insurers often create Florida-specific subsidiaries (colloquially called "pups"). These entities insulate the parent company's assets; if the Florida "pup" goes bankrupt, the parent company remains untouched.