Roofing scams put Florida?s property insurance market ?on the verge of collapse?
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ProfileSectionstvFeaturedMore From NBCFollow NBC NewsAn avalanche of lawsuits fueled by roofing scams has plunged Florida into a property insurance crisis that has forced dozens of companies to shut their doors, drop customers, raise rates or flee the state. But Citizens Property Insurance has asked the state permission to impose an 11 percent rate increase of its own.“This is not fair to the people,” Almeida said.Next week, the job of fixing things will fall, again, to state lawmakers. Boyd also proposed giving insurance companies more access to a state-run Hurricane Catastrophe Fund.If the Legislature doesn’t pass meaningful change, experts said, then more companies will go out of business, and property insurance will keep getting harder and more expensive to find.Jon Schuppe is an enterprise reporter for NBC News, based in New York.
As said here by Jon Schuppe