'As Farmers Insurance exits Florida due to concerns over increasing risk from severe weather, the insurance industry continues to prop up the fossil fuel industry,' notes Public_Citizen's CarlyFabian4.
Some of the companies have cited rising risks from hurricanes as their main reason for leaving. A study published earlier this year
how rapid sea-level rise in the southern U.S.—which is happening faster than scientists previously understood—is intensifying hurricane damage in coastal cities.in May that he rejects the"politicization of the weather"—and the GOP-controlled state Legislature worked hard but ultimately failed to convince Farmers to keep doing new business in the state.
"Florida's leaders have stepped up to the plate by delivering historic reforms to Florida's property insurance market to ensure competitiveness and increase consumer choice,"The Sunshine State's insurance market has struggled since Hurricane Andrew devastated a large swath of southeastern Florida in 1992.At the end of 2022, average annual property insurance premiums had risen to more than $4,200 in Florida, which is triple the national average.
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