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January 2019 Archives

Florida legislature tallies cost of Hurricane Michael

Florida lawmakers have begun the process of estimating the damages to the mostly rural and low-income Panhandle region that bore the brunt of Hurricane Michael in October 2018. The state senate's Banking and Insurance Committee chairman said that the state needed to gather figures about the short and long-term costs of the storm to evaluate what the state could pay for and what was needed from the federal government.

Losses from Hurricane Michael total $6.5 billion

On Oct. 10, 2018, Hurricane Michael destroyed a portion of the Florida Panhandle, killing more than 40 people and inflicting at least $6.5 billion in property losses. As many as 375,000 people were forced to evacuate prior to the storm's arrival. Since that time, there have been more than 135,000 property insurance claims filed, and at least 100,000 people and 16 counties are seeking assistance through federal and state agencies.

Continuing delays for Hurricane Michael insurance claims

Thousands of Florida homeowners are still waiting for much-needed insurance payouts from the damages caused by Hurricane Michael. The state's insurance commissioner called on insurance companies to take action to close the over 42,000 outstanding hurricane damage claims related to the storm that hit Florida in October 2018. The commissioner issued a letter to insurers, reminding them that undisputed homeowners' insurance claims must be paid out within 90 days of receipt under state insurance laws.

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