Beyond the Buildings Weathering the Storm: Will Hurricane Ian Upend the Florida Insurance Landscape?
Oct 19, 2022
24:34
As one of the worst hurricanes to make landfall in the U.S., Hurricane Ian was undeniably a catastrophic event. Its sweeping winds and heightened storm surge wreaked havoc on both the lives and property of Florida citizens. However, the insurance industry in the Sunshine State is also facing significant ramifications from the force of this storm, and only time will tell whether this event will change the face of Florida property and catastrophe insurance.
If you would like to know more about Hurricane Ian or are interested in following our hazard response in real-time visit hazardhq.com.
In this episode:
- Hurricane Ian and hurricane season overview (3:58)
- A comparison of Hurricane Ian to other historical storms (6:11)
- Loss estimates for Hurricane Ian review (7:53)
- What is the difference between an insured loss and economic loss? (11:22)
- Is this hurricane a market-changing event? (14:32)
- What happens to the homeowner if an insurance claim cannot be paid? (16:19)
- Reconstruction cost values estimates (17:33)
- What have we learned from these storms? What will future hurricanes look like? (20:20)