Insurance Crisis in Florida Deepens as AAA and Farmers Withdraw, Blaming Worsening Storms and 'Wokeness'

AAA is the latest company to end certain homeowner insurance policies in Florida, joining a growing list of insurers withdrawing from the state. The insurance crisis in Florida is largely manmade, fueled by frivolous lawsuits and fraudulent claims. A 2017 Supreme Court ruling opened the door for roofing scams and claim litigation, leading to insolvency for local insurers and higher premiums or fewer policy offerings for national insurers. Florida homeowners already pay higher premiums than the national average, and the supply shortage and litigation are driving costs even higher. As a result, more homeowners are opting to go without insurance or enrolling in the state-backed insurer, Citizens Property Insurance Corporation, which is taking on more risk than it can fund.