Sen. Brandes: Citizens could see $10 billion in storm claims
But it remains to be seen how the property insurance system will withstand the financial wreckage from the massive storm.
Citizens President and CEO Barry Gilway said last week that private insurers were projected to have $1 billion in losses this year — and that statement came before Ian decimated parts of the state. “We just did a special session. We put $2 billion into a fund to provide a backstop; it kept a lot of them from going out of business. And this is a problem that we're going to continue to tackle,” DeSantis told reporters Monday at the state Emergency Operations Center.
DeSantis contended many of the Ian claims will involve storm surge and flooding, which is largely covered through the National Flood Insurance Program, rather than by private insurers.
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