Top 5 reasons for the crisis of Hurricane Insurance Florida
In recent times the Insurance market in Florida has been very volatile.
Many Insurance companies have shut their operations and closed their business.
Let's see the top 5 reasons.
Most insurance companies are facing losses in business due to a heavy spike in claims in recent years.
Most of the claims were false as lawyers make numerous false damage claims.
In most cases, the attorneys force insurance companies to pay unrealistic amounts on behalf of homeowners.
Some loopholes in state law also increase the mess and create a nightmare for insurance companies.
As a result of the onset of Hurricane Ian, the common Floridians are in a very bad condition.
With Hurricane Ian in the door, the reconstruction value could go up to $258 billion.
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