In the wake of Hurricane Ian, Florida’s Insurance Commissioner David Altmaier has issued an emergency order that will temporarily prevent property insurers from dropping customers.
The order will suspend cancellations or non-renewals of policies for two months.
“Between September 28, 2022, and November 28, 2022, no insurer or other entity regulated under the Florida Insurance Code shall cancel or non-renew, or issue a notice of cancellation or non-renewal of a policy or contract of insurance covering a property or risk in Florida, except at the written request or written concurrence of the policyholder,” his order said.
The commissioner issued a similar order in 2017 in the aftermath of Hurricane Irma.
The order will also provide a bit of temporary relief for many homeowners in the state who are fearful of losing their coverage, unrelated to the catastrophic storm which unleashed its wrath on southwest Florida.
Residents of Florida now have the highest property-insurance rates in the nation. The Insurance Information Institute reports the average premium in Florida is $4,231 — nearly triple the U.S. average of $1,544.
