The community of Steinhatchee, Fla., returned to their small town after the Cat. 4 Hurricane Helene battered the West Coast of Florida, only to find it devasted by the storm's destructive winds and over ten-foot storm surge. Photo: Brigida Sanchez/U.S. Army Corps of Engineers, Jacksonville District Hurricane Helene Likely To Roil Florida's Already Imperiled Insurance Market
Following the storm's path of destruction through Florida and states further north, financial damage is projected to reach as high as $34 billion, which raises the need for clients to tap lawyers for multiple reasons.
October 01, 2024 at 04:09 PM
5 minute read
What You Need to Know
- Assessing Hurricane Helene's damage on Florida, lawyers are bracing for potential impacts, especially on the state's already fragile insurance market.
- Some believe Helene's impact could make insurance premiums inflate higher, which could spell even more pressure on clients.
- Regardless, demand for lawyers who specialize in insurance law is expected to continue rising.
After years of issues plaguing Florida's insurance market, Hurricane Helene's devastation is a signal of potentially more challenges ahead.
The hurricane's financial damage could top $34 billion, according to Moody's. As Florida continues to struggle luring insurers back into the complicated market after an exodus, some are worried it will only get harder, leaving clients with little options and more demand for lawyers in the space.
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