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Insurance agents: Why rates for Florida homeowners are soaring in 2022

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Jessica Palombo/ WJCT News
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Insurance agents who sell property and casualty policies have a warning for their current and potential clients:

“The Florida homeowners insurance market is currently in crisis and has been for years due to fraud and frivolous litigation,” said Kyle Ulrich, Florida Association of Insurance Agents president and CEO.

In an April 2, 2021, letter to state Rep. Blaise Ingoglia, chair of the House Commerce Committee, state Insurance Commissioner David Altmaier wrote that in 2019, Florida accounted for 8.16% of homeowners insurance claims filed in the U.S., but the state accounts for 76.45% of the lawsuits filed in the U.S. against insurance providers.

Read the rest of this story from WJCT News partner the Jacksonville Daily Record.