[tophcfa]

Here are some points I wrote down while watching the news segment.

- Florida has the highest homeowners insurance premiums in the entire country
- Since 2020, the average home premium has increased 100%
- Since the beginning of 2022, 20 insurance companies have either stopped writing new policies or gone out of business
- The problem in Florida is not just the obvious reason frequently cited, hurricanes, but also litigation
- Florida accounts for 9% of all claims in the country but accounts for 79% of all property claim lawsuits
- The recent legislation passed to address the situation is viewed as a bandaid solution that will not help the problem in the foreseeable future

This is NOT GOOD! Insurers are in the business of diversifying their portfolio of risk. It is highly likely that the dwindling number of companies still doing business in Florida will soon not want any more exposure to the market, unless they are receiving outrageous premiums to compensate them for taking on more risk in such a dangerous market for them (both hurricanes and litigation). Buckle up when your policy approaches its renewal date! I think we better replace our perfectly fine 14 year old roof before our carrier dumps us? Ouch : (