Will Florida Hurricanes Be Insurable in the 2030s?

The future insurability of Florida hurricanes is in question because of storm severity, the state’s storm-exposed coastal topography and development patterns, and Florida’s high-cost legal environment. These factors combine to make coverage for hurricane risks in Florida the most expensive in the country.

Even with recent legislative changes to address the state’s legal environment, there is concern that the pace of increases in premiums for property and flood coverage in Florida will become unsustainable in the next decade.

Five hurricanes have caused devastating damage in Florida over the last 30 years. The top five storms -- Hurricanes Ian, Irma, Andrew, Michael, and Wilma -- have collectively caused over $290 billion of loss. Numerous lesser but still serious hurricanes, including Charley, Matthew, Michael, Ivan, Frances, and Jeanne, added more than $100 billion of additional loss during the same period.