The Florida Office of Insurance Regulation has posted a new reporting form for catastrophe claims data for the 2024 hurricane season.
Florida law requires property insurers to report a wide range of information after storms. The form standardizes the data collection process. The new reporting template can be found here.
After Hurricane Idalia hit part of Florida last year, the data collected have shown that more than 25,000 claims were made through mid-November 2023. Some 17,000 of those were for residential property. About 11,540 were closed with payment – about 46% – three months after the storm passed.
For Hurricane Ian in 2022, 68% of the 777,000 total claims had been closed with payment 19 months after the hurricane hit southwest Florida, the OIR data reports show.
Topics Florida Catastrophe Claims