As a major hurricane, Idalia not only threatens the lives of Floridians but also the progress of Florida’s property insurance market that was already in crisis.
Even though insurance experts said significant gains have been made since a special session to address skyrocketing premiums, they also said Hurricane Idalia could wreak havoc on the market.
If Guthrie’s predictions are right, Floridians are poised to suffer another destructive blow from Hurricane Idalia both on the coastline and in the inland areas. It’s the worst-case scenario for property owners in Florida. Friedlander said the wind, the waves, and life-threatening storm surge could result in insurance claims that may deplete Citizens reserves, which would result in what’s called a “Hurricane Tax” or surcharge, to all Florida insurance policyholders.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Hurricane Idalia rapidly intensifying, eyeing Florida as a major hurricane with life-threatening impactsFlorida Gov. Ron DeSantis declared a state of emergency for dozens of counties over the weekend and prepositioned resources to provide immediate support for areas that will be impacted by Hurricane Idalia.
Read more »
Hurricane Idalia: Texas sends resources to Florida as hurricane approachesTexas A&M Task Force 1 has been deployed to Florida at the request of FEMA.
Read more »
Idalia latest: Sales tax holiday declared in Florida ahead of expected hurricaneFlorida is preparing for the second hurricane-prep tax holiday of the year as Tropical Storm Idalia intensified on Monday.
Read more »
Tropical storm Idalia expected to become a major hurricane before hitting Florida, forecasters sayForecasters said they expected Idalia to become a hurricane later today in the Gulf of Mexico and then curve northeast toward the west coast of Florida.
Read more »
Idalia now expected to hit Florida as a major hurricaneTropical Storm Idalia is impacting Cuba on Monday, but by Wednesday, it could strike Florida as a major hurricane.
Read more »