home insurance crisis

Florida and California handle their home insurance markets differently. Florida leans toward limited regulation and California leans toward regulation. But, they are both in the same boat when it comes to a home insurance crisis. The common denominator: natural disasters. Florida has long subsidized home insurance via its Hurricane Catastrophe Fund, which has a $10 billion in losses. California maintains a Fair Access to Insurance Requirements for home owners denied coverage. It currently has 1000 applications a day.

Route Fifty | How California and Florida are trying to stave off the home insurance crisis