Several insurance experts said fewer major hurricanes striking highly populated parts of Florida in 2023 might have contributed to the latest decline in litigation.
Experts said Florida has done well protecting buildings from wind damage and should now focus on protections from storm surge.
Policyholders had received about $894 million from the National Flood Insurance Program due to Hurricanes Debby, Helene and Milton.
The storm may have limited impacts on Florida as recovery efforts for Hurricanes Milton and Helene continue and independent contractors get more FEMA aid.
The Florida Hurricane Catastrophe Fund is expected to have sufficient cash reserves to cover its portion of losses if the preliminary estimates hold steady.
A new Freddie Mac survey found more people today are concerned about natural disaster risks, which could shape the future of real estate markets.
As recovery continues, more than 26,000 people have checked into FEMA-supported housing and more than 2,700 blue tarps have been installed on roofs.
Florida Realtors chief economist said storms never seem to leave a statewide impact on the housing market. Rather, they cause a temporary lull in sales.
Florida tourism leaders plan a campaign to promote resilience and showcase unaffected areas post-Hurricanes Helene and Milton.
Popular destinations in the state are welcoming visitors and seasonal residents while recovery efforts from Hurricanes Milton and Helene are ongoing.
