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Even before Hurricane Ian, Florida’s home insurance market was hobbled by fraudulent claims, pricey lawsuits and financial mismanagement by some insurance firms.

Executive Summary

Opinion: Tiffany Taba, Florida client success manager for CAPE Analytics, reviews drivers of instability in the Florida insurance market and expresses support for legislation designed to turn things around. Here, she also discusses CAPE's findings that roof age doesn't always correlate with roof condition, noting that over 45 percent of homes with roofs stated as 15 years or older could perform well during wind events, suggesting that AI-powered roof condition assessments would improve homeowner access to affordable insurance.

Floridians pay the highest annual premiums in the country for home insurance, coastal flood insurance prices are climbing, and homeowners face spiraling repair costs following extreme weather events.

The public and private sectors must work together to protect Florida homeowners who need it most, keeping insurance affordable and promoting stability in the homeowners insurance market. As Florida pursues legislative solutions to “harden” the most vulnerable homes, property intelligence technology can help identify which homes can benefit from a new government subsidy to address risks like roof damage.

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