The Florida Office of Insurance Regulation recently released updated data from Hurricane Michael.1 A review of the available data shows the damage for the Florida panhandle. While we all know that Michael did substantial damage in the Florida panhandle the numbers have continued to grow. Over one hundred and twenty-five thousand hurricane claims have been filed (125,356) totaling estimated insured losses at over three billion dollars ($3,430,014,424).
These numbers come from the insurers directly reporting to the FOIR.
Insurers that compiled data also claim that they have closed 55.3% of claims. The data shows that approximately 56,056 claims remain open with the vast majority (39,284) residential property claims. Of the closed claims reported 11,393 have been closed and not paid.
The Office of Insurance and Safety Fire Commission in Georgia issued a news release with some of the data on Georgia Hurricane Michael claims.2 As of early November, reporting insurers in Georgia indicated that approximately 68,000 claims had been filed regarding reported insured losses of more than $696,000,000. These numbers include claims for damage to homes, vehicles, and businesses.
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1 https://www.floir.com/Office/HurricaneSeason/HurricaneMichaelClaimsData.aspx
2 https://www.oci.ga.gov/ExternalResources/Announcements/NewsReleaseInsurance-10312018-137.pdf
