Opinion: Hurricane Preparedness

As we move into these fall months, one major storm is on the way, and there is going to be a lot of talk about Hurricane Preparedness and protecting yourself from storms and storm damage.  That will always lead us to also think about insurance rates going up again. But I keep reading reports from experts that remind us that storms are only one part of the issue for insurance and that litigation and fraud remain big pieces of the puzzle.  It seems like that part is getting better.  After the governor and legislature took steps to pass a reform package back in 2023, it seems that litigation and fraud are being reduced, leading to new insurance companies coming into the market in Florida. This new competition should help bring rates down for consumers over the next few years, and I’m looking forward to seeing us continue to work on the things that we can control in the state of Florida.

Mark Kober