Hurricane Ian Insurance Claims Lawyers Report Losses May Reach $70 Billion
According to a news report posted on CBSnews.com, residents in Florida who were affected by Hurricane Ian are now having a difficult time dealing with insurance payouts.
An independent insurance agency owner spoke with 60 Minutes, and he believes that Hurricane Ian insurance claims will be complicated since there are two separate policies will come into play – one for flooding and another one for wind damage. The insurance agency owner stated that the claims issues would arise as there would be disputes concerning which came first, wind damage or flood damage. The insurance agent also stated that only 18% of Florida homeowners took out flood insurance policies due to the high cost.
The insurance agent owns one of the biggest independent insurance agencies in the southwest Florida area and has approximately 30,000 customers. He said that a lot of his agency's customers live in Fort Myers and on Sanibel Island. Tragically, seven of his employees lost their homes, and his offices sustained water damage. The agent reported that it took one week to get his agency up and running again. He stated that his offices receive about fifteen calls a minute.
The independent insurance agent stated that he worries that the damage caused by Hurricane Ian will only worsen Florida's insurance market. The report states that around eighty percent of all homeowners insurance lawsuits in the United States are filed in Florida. In recent years, most large insurance companies have reduced the number of services they offer in Florida. Six insurance companies went out of business in 2022.
If you or a member of your family has an insurance dispute concerning storm damage, contact Montlick & Associates for your free case review.
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Source:
https://www.cbsnews.com/news/hurricane-ian-insurance-claims-60-minutes-2022-10-09/
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