Lack of leadership triggered current property insurance crisis

With hurricane season coming, Florida lawmakers race to stabilize troubled property insurance market.

In Iraq, my team would always start our day with a pre-mission briefing to make sure everyone knew what our task was and how we were going to get it done. The costs of going off-mission could be costly – even deadly – so distraction was not an option.

Here in Florida, our leaders have lost sight of their mission. Now, Floridians are paying the price.

Over the last several years, Florida’s property insurance rates have skyrocketed. To make matters worse, many insurance companies have either shut down or left the state, giving homeowners fewer options.

Now, with hurricane season just a few weeks away, the situation has reached a boiling point, and lawmakers are scrambling to pass a legislative fix to prevent a total disaster.

Recently, Sunrise-based FedNat Insurance announced it will be canceling 68,000 policies across the state by the end of June, again leaving thousands of Floridan families in potential chaos without coverage. A financial storm surge of gigantic proportions if you will.