Deep-dive investigations have revealed troubling financial practices that go beyond simple "bad luck" with storms:
A 2022 report uncovered that while companies were claiming financial ruin and hiking premiums, they were simultaneously transferring hundreds of millions of dollars to out-of-state affiliates and shareholders. insurance florida
Large national insurers often create Florida-specific subsidiaries (colloquially called "pups"). These entities insulate the parent company's assets; if the Florida "pup" goes bankrupt, the parent company remains untouched. if the Florida "pup" goes bankrupt
Florida's insurance market is uniquely volatile, characterized by the highest premiums in the nation—averaging over , which is triple the national average. which is triple the national average.