Property-insurance claims from Hurricane Irma have approached $4.2 billion in estimated losses, according to the latest numbers from the Florida Office of Insurance Regulation.
Citizens Property Insurance Corp. faces $1.2 billion in losses following Hurricane Irma, Board of Governors chair Christopher Gardner reported Wednesday.
Insurance claims from Hurricane Irma now have surpassed $2 billion, the Office of Insurance Regulation announced Tuesday. As of 4 p.m. Monday, 372,281 claims represented $2,168,674,31 in dollar losses.
State regulators have received notice of more than 335,000 insurance claims since Hurricane Irma hit Florida, mostly concentrated in Central and South Florida, with losses nearing $2 billion. The bottom line as of 4 p.m. Sunday was 335,347 claims, according to the Office of Insurance Regulation. Total estimated insurance losses were $1,954,947,889.
Citizens Property Insurance Corp. had fielded 15,900 Irma-related storm damage claims at last count — a fraction of the more than 100,000 claims the company expects in the weeks ahead.
State regulators have approved two private insurers to assume more than 19,000 policies from Citizens Property Insurance Corp. during August. National Specialty Insurance Co., based in Fort Worth, Texas, will take over as many as 4,520 personal coastal residential policies. Southern Oak Insurance Co., of Jacksonville, will assume as many as 5,000 personal lines and 10,000 coastal account policies. The switch-outs would take effect Aug. 22, the Office of Insurance Regulation said Friday. Thus far this year, regulators have approved…
Belinda Miller, a stalwart of Florida’s insurance regulation efforts since 1985, will retire on July 2, but plans to keep her hand in the industry via consulting work. ”I’m going to retire from the state,” Miller said during a telephone interview Thursday. “It’s just time. I’ve been there a long time, so I’m going to play a little bit.” She expects to do some work for Celtic Global Consulting, the firm former Insurance Commissioner Kevin McCarty set up after he…