Florida takes Yet another pounding as its Largest Insurer rejects Hurricane Claims

Doug McIntyre discusses Citizens’ Property Insurance’s denial of about 70% of hurricane claims in Florida, a huge blow to the millions hit by recent storms. As the largest insurer of residences in the state, this situation could leave many homeowners unable to rebuild, potentially devastating property values. The uncertainty — the move also raises concerns about the company’s financial stability — also discourages other insurers from covering homes in the state.