Florida Insurance Market Braces for Hurricane Season

A very active Atlantic hurricane season this year, as forecasted by the National Oceanic and Atmospheric Administration , could further destabilize Florida's vulnerable insurance market, experts told Newsweek.'A destructive hurricane season could upend insurance markets in vulnerable states including Florida, Texas and Louisiana,' Benjamin Collier, a risk management and insurance professor at the Fox School of Business at Temple University, told Newsweek.

'While a very active meteorological season does not necessarily translate or guarantee a high volume of landfalls in the U.S. and, conversely, significant impacts to life and property, 'we are certainly facing very favorable environmental conditions, which would typically translate to a very active season and we need to be paying very close attention,' Bowen said.'Anywhere from Texas all the way up into the Northeast, you have to be paying attention to this.

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With Florida’s property insurance market stabilizing, experts fear an active hurricane season could reverse ‘momentum’Florida’s property insurance market is showing signs of stabilization, according to the president of the Florida Senate. However, experts fear that an “explosive Atlantic hurricane season” predicted for this year could pose a threat to that positive trend.
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