american city business journal
Tampa Insurance CEO says Hurricane Ian losses will push industry to ‘brink’
Hurricane Ian could cause insured losses of more than $57 billion, making a Category 4 hurricane the second most costly hurricane after Katrina, according to estimates by the Insurance Information Institute. More than 335,700 claims have been filed so far in the aftermath of the storm, with estimated insured losses of $2.8 billion, according to data reported Wednesday by the Florida Department of Insurance Regulatory Affairs. With 11 Florida property insurers declaring bankruptcy within the past 12 months, the state’s property insurance market clearly “wasn’t the best place for this storm,” said BRP Group CEO Trevor Baldwin. told the Tampa Bay Business Journal.