Florida homeowners have faced skyrocketing insurance premiums, dropped policies from insurers, and battles over storm claims in recent years due to the state's property insurance crisis. A Senate committee hearing was held in Washington, D.C., to discuss the role of climate change in Florida's crisis and how it could foreshadow problems for homeowners nationwide. Witnesses testified that many Florida insurers are financially weaker than their ratings indicate. They said the state lacks comprehensive data on insurance policies, claims, and costs to determine the true drivers of rising rates.
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00:00 It's Benzinga, and here's what's on the block.
00:02 Florida homeowners have faced skyrocketing insurance premiums, dropped policies from
00:06 insurers, and battles over storm claims in recent years due to the state's property
00:10 insurance crisis.
00:12 A Senate committee hearing was held in Washington, D.C. to discuss the role of climate change
00:16 in Florida's crisis and how it could foreshadow problems for homeowners nationwide.
00:20 Witnesses testified that many Florida insurers are financially weaker than their ratings
00:25 indicate.
00:26 The committee said the state lacks comprehensive data on insurance policies, claims, and costs
00:30 to determine the true drivers of rising rates.
00:32 For all things money, visit Benzinga.com.
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