Florida’s property insurers are losing money like nowhere else in America—and lots of it. In 2019 the industry wide net underwriting loss was $701 million. Through the second quarter of 2020 another $501 million vanished. That’s for one line of insurance in just one state.
Collectively the combined ratio year-end 2019 was 111%. That deterioration persisted at least through 2nd quarter 2020 at 129%. Every dollar coming in crosses path with $1.30 going out. (See: The Troubled Florida Market) [Read more…] about Litigation Reality Check- “Stick & Carrot”