Navigating Florida's Property Insurance Challenges.
Florida's Chief Financial Officer, Jimmy Patronis, has given an update on the state's rising property insurance rates, attributing it to multiple factors, including the most active storm season in US history in 2020, which affected the reinsurance market. Fraud and litigation are also contributing to the problem, with the Florida Legislature working on legislation to address it. Homeowners are encouraged to get a wind mitigation inspection to potentially reduce their insurance rates.