Florida's property insurance market is in a crisis, with the majority of homeowners in the Southeast unable to secure insurance except through its residual market and commercial accounts going bare on wind coverage.
Recently, large publicly traded brokers reported a very gloomy outlook toward the property market in general. During investor conference calls they called the market the worst they had seen in years.
To agents and brokers on the ground in Florida dealing with the issue locally, the word "crisis" doesn't begin to describe the situation. Impossible would be a more apt description of the situation.
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