Great article.
As an experienced public adjuster in Florida, the recent developments highlighted in the Orlando Sentinel article are both concerning and revealing. The steep premium hikes proposed by the new insurer for Citizens customers underscore the ongoing volatility in Florida's insurance market. These drastic increases, while ostensibly a measure to manage risk and ensure profitability, place an undue burden on policyholders who are already navigating the challenges of living in a hurricane-prone state. The state's intervention to moderate these hikes is a necessary step to protect consumers from exorbitant costs, but it also highlights the broader systemic issues within the industry. Insurers and regulators must work collaboratively to develop sustainable solutions that balance the financial viability of insurance companies with the affordability and accessibility of coverage for homeowners. This situation reiterates the importance of vigilance and advocacy in our role as public adjusters, ensuring that our client's interests are safeguarded amidst these turbulent shifts in the insurance landscape. Moreover, this alarming trend exposes how Florida legislators have once again failed to uphold the trust of their constituents. The lack of proactive measures to stabilize the insurance market and protect homeowners from such drastic premium hikes reflects a disconnect between legislative actions and the needs of the people they serve. Lawmakers must prioritize comprehensive reforms and transparent oversight to rebuild the trust and confidence of Florida residents in their elected officials and the insurance system. https://lnkd.in/g4UsRJu8 #failingflorida #propertyinsurance #onlyinflorida