Judd Legum

@JuddLegum ↗

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Last Checked Oct. 14, 2022

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Mon Oct 03 12:39:03 +0000 2022

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Judd Legum @JuddLegum

5. The collapsing market has left many Floridians reliant on the Citizens Property Insurance Corp., a state-run agency that is supposed to be the "insurer of last resort." It now provides property insurance for more than 1 million Floridians. https://t.co/el450oM7QI — PolitiTweet.org

Posted Oct. 3, 2022

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Judd Legum @JuddLegum

4. In the last five years, six Florida insurance companies have gone out of business "without responding to a hurricane, and four more are in the process of liquidation." https://t.co/el450oM7QI — PolitiTweet.org

Posted Oct. 3, 2022

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Judd Legum @JuddLegum

6. But Citizens has limited resources. It currently has $13.5 billion available to pay out claims. If Citizens runs out of money, Florida law "allows [Citizens] to assess non-customers to pay out claims." A "hurricane tax." https://t.co/el450oM7QI — PolitiTweet.org

Posted Oct. 3, 2022