Florida's Largest Insurers Face Losses

This is a Orlando news story, published by CNN, that relates primarily to Hurricane Milton news.

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private home insurance policy

CNN

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Florida’s home insurer of last resort is in serious trouble. Will Milton put it over the edge? | CNN Business

Summary

Nutrition label

74% Informative

Citizens Property Insurance Corp. was set up to be an insurer of last resort for those who can't find coverage in private market.

With 1.3 million policies in force as of last month , Citizens is by far the largest provider in the state.

The insurer will almost certainly have to pay out billions of dollars in claims from Hurricane Helene and Hurricane Milton .

Citizens would likely need to push for higher rates on its customers more and potentially even reworking what its policies cover, Rappmund says.

Bobby Atwood , a 29-year-old product manager who recently moved to Orlando , said he found it “reassuring” to know that his policy won’t get canceled.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful