What’s the latest on Hurricane Irma’s aftermath based on a recent CBS Miami article? According to Florida’s Office of Insurance Regulation, estimated insurance losses are now at more than $6 billion, with over 850,000 claims. More than 700,000 of those claims involve residential properties.
Although Floridians have plenty of time to file their claims, the numbers appear to suggest a slowdown in reported damages. Thankfully, it seems most, if not all of Florida’s insurance are well-equipped to handle the number of claims. However, figures from individual private insurers have yet to be released. As for last resort insurer Citizens Property Insurance, its 60,000+ claims largely came from Miami-Dade, Broward, and Monroe County. The insurer estimates its claims will increase to 70,000 with just over $1 billion in damages over 2018.
Speaking of Miami-Dade, the county continues to have the largest amount of claims resulting from Hurricane Irma, with over 110,000 per the Office of Insurance Regulation. Broward County comes in second place with 71,970 claims.
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.