Citing Fraud, Florida Insurers Raise Property Insurance Rates

Although a major hurricane hasn’t unleashed its full fury on Florida in more than a decade, property insurance rates are climbing statewide because of another kind of storm — claims abuse. Insurers continue to face major challenges due to abuse, shrinking their profits and driving up their rates. Those challenges are of heightened concern as another hurricane season approaches that’s expected to be busy, with the National Oceanic and Atmospheric Administration expecting five to nine hurricanes to form. The Atlantic season runs from June 1 to Nov. 30.