The 2024 Atlantic hurricane season brought unprecedented changes to Florida’s insurance market.
The impact of inclement weather has caused home and flood insurance rates to balloon over 400% in the last five years alone. Most recently, Hurricanes Helene and Milton led to housing supply and demand volatility, as data indicates Tampa’s housing supply is up 58%, while demand shrunk 10%.
Related: NOAA Confirms It Has Been a Busy Weather Year
As extreme weather-related events grow in intensity, so does the risk for insurers. Hurricane Helene, for example, caught many by surprise––most of the damage occurred