Weather and climate disasters cost $145 billion dollars last year, according to the National Oceanic and Atmospheric Administration, which said it was the third most expensive year to date. (Credit: Arcady/Adobe Stock)
On the heels of the Florida legislature's special session, South Florida's new property insurance laws are taking effect. The 2022 hurricane season began last week and is predicted to be 65% above normal activity, meaning insurers and their policyholders could be in for some rough weather.
Policyholders won't be in a good position if there's a hurricane in the short term. That's according to insurance attorney Adrian Neiman Arkin of Mintz Truppman in Miami, who said no one's premiums have yet gone down since Gov. Ron DeSantis recently signed a new property insurance bill into law.
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Melea VanOstrand
Melea VanOstrand oversees the Daily Business Review as ALM's Florida Bureau Chief. Email Melea at [email protected] or follow her on her Twitter or Facebook pages.
