Pressure mounts on DeSantis as Florida’s insurance crisis continues to unfold
Pressure mounts on DeSantis as Florida’s insurance crisis continues to unfold | Insurance Business America
Property
Pressure mounts on DeSantis as Florida’s insurance crisis continues to unfold
Governor faces criticism for his “lack of leadership”
Property
By
Mika Pangilinan
Pressure mounts on Ron DeSantis as Florida continues to face a historic surge in home insurance premiums.
Florida congressman Maxwell Frost is the latest to demand that DeSantis introduce measures to address the issue, adding to previous calls that have asked the governor to prioritize the state’s property insurance crisis over his presidential bid.
Insurance premiums in Florida have tripled over the past five years, according to the Insurance Information Institute (Triple-I). Floridians now face an average yearly payment exceeding $4,200, which is a significant jump from the national average of $1,700.
In a letter addressed to DeSantis, Frost requested a meeting to discuss solutions to alleviate the financial burden faced by homeowners across the state.
In one of these testimonies, a long-time teacher recounted how she may have to delay her retirement after her insurance premium spiked by by $1,000 annually.
A Habitat for Humanity homeowner also revealed that his insurance policy was abruptly canceled, leaving him to make the difficult choice between maintaining coverage and paying his bills.
“What I heard emphasized the harm directly caused to Floridians by your lack of leadership to properly regulate the insurance industry, mitigate the destruction of extreme weather events, and make informed legislative decisions to solve the problem,” Frost said in his letter.
DeSantis needs to take “swift action”
Frost also took his concerns to social media, stating that Florida’s property insurance crisis is “devastating thousands of individuals across the state.”
“Governor DeSantis needs to take swift action to protect Floridians now,” he added.
“We all know that he’s running for president, but we have real problems, real issues, and the crisis with property insurance,” she said.
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