TALLAHASSEE, Fla. –
The Florida Office of Insurance Regulation (OIR) today released an analysis
entitled, “One Year Later: Hurricane Michael’s Impact on Florida,” providing a
current narrative of the impact of Hurricane Michael on Florida.
“As we mark the one-year
anniversary of Hurricane Michael, OIR recognizes the tremendous work that still
needs to be done to close insurance claims and allow Florida’s Panhandle
residents and business owners to rebuild and recover from this devastating
storm,” said Insurance Commissioner David Altmaier.
Since Hurricane Michael made landfall in October 2018, OIR has
completed 44 data calls, reflecting an analysis of 400 companies. As of
September 27, 2019, Hurricane Michael has produced 149,448 claims with over
$7.1 billion in estimated insured losses. Bay County was most severely impacted
by Hurricane Michael, with 89,519 claims accounting for almost 60% of all
have continued to file new claims through the latest reporting period,
including 1,571 in the last 90 days. It is important to note that 627.70132,
Florida Statutes, allows policyholders to file a claim within three years of
the hurricane’s initial landfall or when the windstorm caused the covered
damage, in accordance with the terms of the policy.
The site containing the
analysis can be accessed here.