Hurricane Ian didn’t break Florida’s property insurance market.
Insurers have the capacity to pay claims from the storm, which struck Southwest Florida last month as a Category 4 hurricane that destroyed hundreds of structures and killed more than 100 people.
Losses estimated by domestic insurers have been readjusted this week to levels lower than originally estimated and experts say those losses will remain well within companies’ abilities to pay claims. They’ll be doing so out of their surpluses and reinsurance they were able to secure before this year’s hurricane season.
