Hurricane season is over, but it didn’t come and go without leaving its mark. Thanks to Hurricane Irma, Florida and its insurance industry ended up dealing with a tremendous headache. It’s estimated that losses due to the storm have been at least $25 billion or more. According to a recent Insurance Journal article, the Florida Office of Insurance Regulation reported total estimated insured losses at over $5.8 billion as of Nov. 13, with nearly 700,000 residential property claims and over 50,000 commercial property claims.
Last resort Florida insurer Citizens expects to shell out just over a billion dollars in insured losses during the next two years and it has already closed two-thirds of the more than 60,000 claims it’s received. Over 40,000 of those claims have originated in Miami-Dade, Broward, and Monroe counties.
Despite the billions of dollars in damages, Hurricane Irma’s effects could have been significantly worse. Before it made landfall, it was estimated the storm would cause as much as $200 billion in damages. After veering slightly off course to the west, South Florida managed to dodge the brunt of the storm.
Even so, Florida is still recovering from Irma as insurance companies scramble to find claims adjusters. If you’re among the affected and need legal help in regards to your insurance claim, we’ll be happy to assist you.
This information is provided by Miami insurance attorney Alonso & Perez, LLP. Our areas of practice include bankruptcy, insurance litigation, foreclosure defense, immigration law, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.