Texas rates have increased 22% on average so far in 2023, twice the national rate. More billion-dollar disasters have occurred in Texas this year than any other year on record.
this is also a recurring theme in Florida, where pretty much the entire insurance market is being propped up artificially by state intervention. it doesn’t seem to be as bad in Texas yet, but we’re quickly coming up on a period in time where hard decisions are going to have to be made about what can be covered and what in effect has to be written off.
this is also a recurring theme in Florida, where pretty much the entire insurance market is being propped up artificially by state intervention. it doesn’t seem to be as bad in Texas yet, but we’re quickly coming up on a period in time where hard decisions are going to have to be made about what can be covered and what in effect has to be written off.