Get all your news in one place.
100's of premium titles.
One app.
Start reading
The Conversation
The Conversation
Shahid S. Hamid, Professor of Finance, Florida International University

The big reason Florida insurance companies are failing isn't just hurricane risk – it’s fraud and lawsuits

Roofs are an entry point for fraud after storms. Win McNamee/Getty Images

Hurricane Ian’s widespread damage is another disaster for Florida’s already shaky insurance industry. Even though home insurance rates in Florida are nearly triple the national average, insurers have been losing money. Six have failed since January 2022. Now, insured losses from Ian are estimated to exceed US$40 billion

Hurricane risk might seem like the obvious problem, but there is a more insidious driver in this financial train wreck.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.