Florida’s coastal communities have added an additional 1.5 million people and almost a half-million new houses since eight hurricanes whipped through Florida during back-to-back seasons a decade ago. The damage resulted in $33 billion in insurance claims. Experts say the risk of catastrophic destruction hasn’t grown along with the new development. They believe this to be true because because Florida builders are doing a better job of making structures hurricane-resistant. The improvement derives from Florida’s 2002 statewide building code which states that all new structures get tough inspections and are built with shatter-proof glass and straps reinforcing the connection between roof and walls
When disaster strikes, generally people are completely distracted when it comes time to file an Insurance claim. After a disrupting incident, like a fire or plumbing leak, it is difficult to navigate the murky waters of your insurance policy. While completely understandable, this is a time when you can make some serious mistakes that may cause you to lose out on some big money by saying the wrong thing to an insurance company. It often seems that people acting with the best of intentions end up suffering the most. When it comes to home repairs, sometimes contacting your insurance company about a seemingly basic home repair question can end up costing you dearly. A comparison of an insurance agent to a police officer would be apt. Talking to an insurance company is just like talking to a police officer:
Researchers predict the 2015 Hurricane Season will be a mild one. They are predicting only 7 storms, compared with the 30-year average of 12. It is also predicted that three of these storms will reach hurricane strength of at least 74 miles (119 kilometers) per hour. The season starts on June 1st and lasts through Nov. 30. Citizens Property Insurance Corp., known for providing coverage when other insurers won’t take the risk, is selling as much as $1 billion of municipal debt. It would be the insurer’s first bond sale in three years. In 2012, Citizens told investors that it writes policies in areas that “appear to be at the highest risk” of hurricanes and sinkholes. If a storm produces enough claims to consume reserves, Citizens can ask for a surcharge on property-insurance policies sold statewide, including those from other companies, to repay its bonds.
There’s good news and there’s bad news. The good news is Florida’s foreclosure activity has declined by more then a third from a year ago. The bad news is it still ranks as one of the highest in the nation. A recent report from research firm Realty Trac shows one in 570 homes in Florida is in foreclosure. Read more about Foreclosures in Florida 2015 at 
In September of 2014, the Citizens Property Insurance Corp. decided to put an end to an Citizens assessment allocated to pay-off a bond issued by Citizens, a property insurer backed by the state. The bond was created following the 2004-2005 Hurricane season, which saw a total of eight storms. The bond, which was scheduled to be paid off in June 2017, puts Florida’s insurance regulators two years ahead of schedule.