Senate Committee Hearing Explores Climate Change's Impact on Florida's Insurance Crisis as Homeowners Suffer Amid Property Insurance Crisis from knoll insurance Watch Video

⏲ Duration: 0:36
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✓ Published: 07-Jun-2024

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Florida homeowners have faced skyrocketing insurance premiums, dropped policies from insurers, and battles over storm claims in recent years due to the state's property insurance crisis. A Senate committee hearing was held in Washington, D.C., to discuss the role of climate change in Florida's crisis and how it could foreshadow problems for homeowners nationwide. Witnesses testified that many Florida insurers are financially weaker than their ratings indicate. They said the state lacks comprehensive data on insurance policies, claims, and costs to determine the true drivers of rising rates.