Following Hurricanes Milton and Helene, Florida's insurers paid only half of the claims filed. According to the Florida Office of Insurance Regulation, approximately 42% of these claims were closed without payment, while 7% remain open and unpaid. Security First Insurance Co.'s CEO Locke Burt highlights that many claims are denied due to under-deductible damage, and those pending payment often await contractor repairs or have recently been filed. This illustrates the complex nature of hurricane claims processing in Florida.
Locke Burt, CEO of Security First Insurance Co., explains that many claims are denied due to damage being under homeowners' deductibles.
Burt emphasizes that while claims may appear unpaid, many are simply awaiting repairs or have only recently been filed.
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