Florida’s disjointed property insurance system that relies almost exclusively on small and midsize companies will take a multibillion-dollar loss from Hurricane Michael, but has sufficient reserves and backups that providers should be able to pay claims without problems, analysts say.

Major national players such as State Farm, Allstate and Liberty Mutual write few if any homeowners policies in Florida because of the high risk of hurricane losses, leaving the market to smaller companies and the state-created insurer of last resort, Citizens Property.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]