In Florida, it won’t just be those with homes and businesses hit directly by Hurricane Idalia who might be stuck picking up the pieces. Thanks to a broken home insurance market, a particularly bad hurricane could spread financial fallout throughout the state, leaving residents from Pensacola to Key West stuck paying repair bills for years. [time-brightcove not-tgx=”true”] Beset by hurricanes made more severe and more frequent by climate change, as well as rampant fraud and tides of frivolous lawsuits, dozens of insurers in the state have closed up shop or stopped selling new home insurance policies in the state in recent years. (Farmers became the most recent big insurer to pull
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