Weekly Roundup: New Report Shows Florida’s Insurance “Recovery” Is a Revolving Door of Failed Firms and Political Favors
FOR IMMEDIATE RELEASE
November 21, 2025
Contact: contact@insurancefairnessproject.com
Weekly Roundup: New Report Shows Florida’s Insurance “Recovery” Is a Revolving Door of Failed Firms and Political Favors
Each week, the Insurance Fairness Project highlights the latest developments in the national climate-driven property insurance crisis. For more insurance updates, follow us on LinkedIn, X/Twitter, and Bluesky.
1/ INSURANCE FAIRNESS PROJECT RELEASES NEW REPORT ON FLORIDA INSURERS: A new report from the Insurance Fairness Project reveals that Florida’s insurance market remains precariously balanced on undercapitalized companies, opaque ratings, and a regulatory system that prioritizes market optics over homeowner protection.
The American Prospect: New Reforms, Same Old Florida Home Insurance Market
Report: Behind Florida’s Insurance “Comeback”: The Same Players, the Same Risks
Press release: New Report: Florida’s Insurance “Recovery” Is a Revolving Door of Failed Firms and Political Favors
On Wednesday, November 19th, the Insurance Fairness Project hosted a joint press call with Unlocking America’s Future. This call featured Florida State Senator Carlos Guillermo Smith, Dr. Martin Weiss, founder of Weiss Ratings, and Anders Croy, the Communications Director of Florida Watch. On this call, speakers demanded home insurers be held accountable for bad faith practices amid record profits while homeowners continue to lose coverage.
Watch the recording here.
Press release: Florida State Senator Smith And Experts Discussed How Insurance Companies Are Exploiting Florida Homeowners Amid Affordability Crisis
Unlocking America’s Future report: Florida's Insurance Crisis: How Homeowners Pay More While Insurers Profit
2/ RISING HOME INSURANCE COSTS ARE RESHAPING THE HOUSING MARKET: Recent reporting shows how soaring home insurance premiums, driven by climate-risk, are altering the U.S. housing market. In many high-risk regions, insurance is no longer a background expense; it’s determining whether families can buy, sell, or stay in their homes. This is no longer confined to hurricane-prone coasts.
New York Times: A Climate ‘Shock’ Is Eroding Some Home Values. New Data Shows How Much.
“They won’t insure you,” Ms. Rojas said. “No one will buy from you. You’re kind of stuck where you are.”
Bloomberg: How to Fill the Climate Void Left by the White House
3/ AS DISASTER AND INSURANCE COSTS RISE, HOUSEHOLDS ARE STRUGGLING TO KEEP UP: Climate change is driving up home insurance premiums across the United States. Increased frequency and intensity of storms, floods, and wildfires are causing property damage and destruction leading to higher insurance costs. Experts are warning that this could lead to an increase in foreclosures within the next year.
NPR: Disaster and insurance costs are rising. The middle class is struggling to hang on
"Right now, the majority of what I see is that they're pinching every penny to pay that mortgage every month," Gatewood says. "If this economy continues on like it is for another year, yeah, for sure, we're going to have a lot of foreclosures."
4/ NEW EPISODE OF “SMOKE AND MIRRORS”: Episode 3 of the Consumer Watchdog podcast investigates the growing dependence of home insurers on one technology company, Verisk. Verisk effectively controls the entire home insurance process, from establishing coverage limits to calculating post-disaster rebuilding costs and assessing wildfire risk. This control is exercised through three proprietary, yet opaque, products sold by Verisk: 360Value, Xactimate, and FireLine.
Consumer Watchdog: New Episode of Smoke & Mirrors Reveals How Tech and Algorithms Hurt Policyholders
“Using Verisk’s black box programs, insurance companies are underinsuring, lowballing claims payouts, raising prices and denying people coverage completely,” said Kloczko.
5/ NEW TOOL TO HELP HOMEOWNERS: A recently approved bill, SB 429, aims to help California homeowners and potential home buyers by providing greater transparency in fire insurance. This legislation mandates the creation of a publicly accessible tool that offers comprehensive data, including fire and fire risk tracking. This new resource is designed to simplify the process for homeowners to obtain and better understand their fire insurance coverage.
Resources
Insurance Fairness Project: Polling – Voters Want Their Government to Address the Property Insurance Crisis
Public Citizen and the Revolving Door Project: Mapping the Home Insurance Crisis
Consumer Federation of America: Overburdened: The Dramatic Increase in Homeowners Insurance Premiums and its Impacts on American Homeowners
Brookings Institution: Homeowners insurance in an era of climate change
Consumer Federation of America and Climate and Community Institute: Penalized: The Hidden Cost of Credit Score in Homeowners Insurance Premiums
Americans for Financial Reform and Public Citizen: Rising Property Insurance Premiums: The Uneven Risks to Household and Systemic Financial Stability
Climate and Community Institute (CCI): Insurers of Last Resort: Why Today’s FAIR Plans Need a Redesign to Address the Home Insurance Crisis
Center for Climate Integrity: How Big Oil is Fueling the Insurance Crisis And Why State Policymakers Should Act
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The Insurance Fairness Project is an information hub dedicated to offering insights into the home insurance crisis, exploring its drivers and highlighting solutions alongside issue experts and community advocates.
