Litigation is looming for household insurers in Florida as income-strapped, underinsured homeowners—paired with an intense plaintiffs’ bar—are envisioned to flip to the court program to test to pressure payments for flood injury that the carriers say they aren’t lawfully obligated to cover.
Much less than one particular-3rd to just over 40% of the Florida homes in the two coastal counties toughest hit by Hurricane Ian are covered by flood policies, even though common homeowners’ procedures in the U.S. for decades have excluded flood destruction. In some of the inland counties terribly flooded by Ian’s torrential rains, only a handful of out of just about every 100 houses have flood insurance coverage.
