“Florida’s property insurance market was the most volatile in the U.S. before Hurricane Ian formed and will most likely become even more unstable in the wake of the storm,” said Mark Friedlander, a director at Insurance Information Institute in Florida.
Flaws in laws and regulations allowed insurers to be overrun by claims or operate with little financial responsibility and oversight. These issues have created problems in the market that have shepherded many insurers toward closure or left them on precarious financial footing.Download NBC 5 Dallas-Fort Worth
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