. 30 insurance companies in Florida are on a state regulator’s watch list because of their shaky finances. Depending on the severity of property damage from the storm, it could be harder for people to collect on their insurance claims, according to NBC News.
Denise Rappmund, a senior analyst and vice president in Moody’s Public Project, explained that some of the property insurance challenges in Florida come from state laws. The state has seen a lot of roofing scams and a large amount of fraudulent damage claims, reports NBC News.“There are two primary reasons, one of which is the environmental risk exposure,” Rappmund told Earther.
Rappmund predicts that state officials may have to become increasingly involved in regulating the insurance market, especially after Ian. She noted that some of the issues in Florida could eventually spread to other parts of the U.S.“Everyone’s talking about Florida right now. And they’re the precipice of something major, unfortunately, but I think that’s sort of a common theme across the country,” she said, “We have massive flooding in the Midwest, major forest fires in the West.
not to worry Floridians, if your insurance company goes under & doesn't pay you, the deep state will cover your losses.
Insurance is becoming a scam. Take your money, but then don’t pay when necessary. Same in the medical field.
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