Florida hurricane insurance preparation was effective, say officials

Florida hurricane insurance rates

The state has said that insurers were responsive to their customers because they were ready. State officials have said that Florida hurricane insurance companies have been responsive to customers. This responsiveness to the damage from two hurricanes this year was the result of preparation. Those hurricanes caused hundreds of millions of damage in that state alone. These were the conclusions shared by the Florida Division of Consumer Services. That division received only 375 calls regarding the way Florida hurricane insurance claims were handled. When taking into consideration that Hurricane Matthew…

Read More

Hurricane insurance rates increase in Florida regardless of the lack of storms

Florida hurricane insurance rates

Many residents of the state are wondering why they’re paying more when it has been many years since the last catastrophe. Florida hurricane insurance rates have been on the rise and while that may not have drawn much attention at one time, many residents of the state are wondering why they should have to pay more when it has been more than a decade since the damage left behind by Hurricane Wilma. When Hurricane Wilma smashed through South Florida, devastation worth billions was left in its wake. However, despite the…

Read More

Hurricane season preparedness is better than typical in Florida, this year

Florida hurricane insurance rates

The insurance industry is more ready than usual as this year’s highest risk period for the storms begins. This hurricane season, Florida feels that its insurance industry is better prepared than it has been in quite some time, after having enjoyed eight consecutive years in which the massive Atlantic storms have not caused catastrophes within the state. Now that the season for these major storms has begun, the state is ready to see what this year has to offer. The 2014 Atlantic hurricane season got started on June 1 but…

Read More

Advisory panel warns that Florida may not be able to handle an active hurricane season

Florida Homeowners Insurance

Florida’s Cat Fund facing financial woes This year’s Atlantic hurricane season is scheduled to begin on June 1. The season has yet to begin but has been the subject of speculation throughout the insurance industry. The past two years have played host to turbulent seasons, one of which caused significant damage in the eastern U.S. Some predictions hold that this year’s season may be mild, but Florida may not be able to withstand a hit from a strong storm. The Florida Hurricane Catastrophe Fund (Cat Fund), a state-run service that…

Read More

NOAA updates hurricane season forecast, still calls for an active season

The National Oceanic and Atmospheric Administration (NOAA) has updated their forecast of this year’s hurricane season. The original outlook was issued in May in which the agency noted that the current season would be more active than usual. Several major storms have already formed in the Atlantic Ocean, with some making landfall in Florida and Texas. None have cause any major damage, thus far, but that may change during this month as NOAA predicts as many as five category 3 hurricanes to form offshore. According to Gerry Bell, Ph.D., the…

Read More