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BB Hokie

Joined: 09/06/2010 Posts: 3161
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Hurricanes Irma and Michael wiped out many carriers in Florida...


Capitol Preferred is one of many insurers responding to deteriorating conditions in the Florida homeowners insurance market from a combination of AOB, water damage loss claims and several years of major hurricanes, as well as a what insurers call “loss creep” from those claims in recent months.

According to a June 2019 AM Best report, several carriers, including the top five publicly traded Florida insurers (United Insurance, FedNat, Heritage, Universal and Homeowners Choice) have reported adverse development related to Hurricane Irma, “considerably increasing ultimate loss estimates since impact,” Best said.

The report also noted claims from Hurricane Michael appear to be taking a “similar, though less severe, trajectory,” with several carriers increasing ultimate loss estimates as time passes.

(In response to this post by Full-Set and Moonshine)

Link: link


Posted: 07/29/2020 at 12:53PM


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Current Thread:
 
  Home Insurance increases by $1000 ... -- Full-Set and Moonshine 07/29/2020 12:38PM
  You should shop around, that is not normal unless you live oceanfront ** -- 98Hokie 07/29/2020 11:22PM
  We live about one block from the Gulf. ** -- Full-Set and Moonshine 07/30/2020 08:10AM
  Gotta pay for those peaceful demonstrations -insurance is a big pot of $$ -- hokiewasp 07/29/2020 10:22PM
  Could Always be worse -- harlote101 07/29/2020 3:22PM
  No change to ours in either state; often wonder how high Fla can go ** -- WestyHokie 07/29/2020 2:56PM
  A quick look around with Progressive or others could be profitable.... ** -- UTPr0sim 07/29/2020 2:56PM
  Mine was same as last year; renewed in July ** -- BleedinOandM 07/29/2020 2:25PM
  I guess since my home now serves as my office there is -- GreenvilleVT 07/29/2020 2:08PM
  There will be a lot of taxpayers with new deductions home business expenses -- Full-Set and Moonshine 07/29/2020 2:42PM
  Good point. Also now a tax write-off!?!?!? ** -- 48zip 07/29/2020 2:19PM
  If it is then bourbon is a business expense. ** -- GreenvilleVT 07/29/2020 2:20PM
  No real change to ours in NH -- MAHokie69 07/29/2020 2:03PM
  It's waves of lawsuits in Florida and needed tort reform that -- Stork 07/29/2020 2:00PM
  Not nationwide but FL has been hit hard and you have another -- fordham 07/29/2020 2:00PM
  Worries of the next tropical cyclone? -- HokieDevil 07/29/2020 1:18PM
  It keeps moving west... -- Full-Set and Moonshine 07/29/2020 1:22PM
  Re: It keeps moving west... -- statmanfromHCyrs 07/29/2020 3:10PM
  Where is us? Headed to miramar beach mid Sept. I'm hoping for a -- ElbertoHokie 07/29/2020 2:54PM
  Panhandle. And it's moving back east now. ** -- Full-Set and Moonshine 07/30/2020 08:09AM
  Hurricanes Irma and Michael wiped out many carriers in Florida... -- BB Hokie 07/29/2020 12:53PM
  I’m glad Irma weakened, I don’t think my house would have made it -- Betabeachbum 07/29/2020 1:13PM
  Where are you located? -- Full-Set and Moonshine 07/29/2020 1:19PM
  We are in Tarpon Springs, just north of Clearwater. We went to my parents -- Betabeachbum 07/29/2020 1:28PM
  We have friends in Odessa and Trinity ** -- Full-Set and Moonshine 07/29/2020 1:29PM
  Irma and Michael were horrible storms. Dorian could've toppled Florida ** -- Suffhokian 07/29/2020 1:03PM
  Yes, we narrowly escaped catastrophic damage with Michael. ** -- Full-Set and Moonshine 07/29/2020 1:20PM
  Who's your insurance company? -- EDGEMAN 07/29/2020 12:50PM
  Federated National -- Full-Set and Moonshine 07/29/2020 12:55PM
  Some companies are dropping Florida all together. Huge storm losses lately. -- 48zip 07/29/2020 12:48PM
  It bothers me that for many years we had very little tropical activity .. -- Full-Set and Moonshine 07/29/2020 1:25PM
  Mine goes up from time to time, the reason is usually stated as increasing -- jmanatVT 07/29/2020 12:44PM
  Rebuild increased about $20K -- Full-Set and Moonshine 07/29/2020 12:46PM
  I have to wonder about the drivers of the increase. I would think that -- lilhokie525 07/29/2020 12:42PM
  That would be suprising -- Beerman 07/29/2020 1:20PM
  Covid roof damage? ** -- FfxStationHokie 07/29/2020 12:41PM
  I hope they aren't adding roof deaths -- Full-Set and Moonshine 07/29/2020 12:42PM
  Yeah, those should definitely be categorized as shingles-related. -- MP4VT2004 07/29/2020 12:55PM
  That new shingles vaccine should prevent that damage. ** -- Hokie360 07/29/2020 1:07PM
  Reminds me I need the second dose ** -- TomTurkey 07/29/2020 3:06PM
  Just got my first a week or two ago. -- Hokie360 07/29/2020 3:11PM

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