Phoenix headline:As climate in FL sets ‘new normal,’ cost of property insurance will separate haves and have-nots
Florida lawmakers poised to act against soaring property-insurance rates may address allegations of insurance fraud and may manage to lure jittery reinsurance companies back into Florida’s crippled marketplace.
But one thing they can’t do is change the weather.
“Insurers believe that due to climate change, this is the new normal. They’re finding that catastrophic and non-catastrophic weather events are increasing in severity every year,” said Paul Handerhan, president of the Federal Association for Insurance Reform, a national nonprofit advocacy organization based in Fort Lauderdale.
My note: One of the biggest issues in Florida affecting insurance rates other than climate change and stronger hurricanes is FRAUD by contractors post-hurricane. I can’t tell you how many dozens of fraudulent roofers are now in jail for running scams down here in the Keys for work never started, or, never completed.