Policyholders have filed a total of 772,934 Hurricane Irma claims as of October 20, six weeks after the storm left millions in the Sunshine State with a major clean-up and restoration effort. Areas such as the Florida Keys, where the structural damage was extensive, are likely to have the longest road to recovery.
According to the Florida Office of Insurance Regulation, the total estimated insured losses for Hurricane Irma claims amounts to $5,311,772,141.
The majority of filed claims are from residential property homeowners, which account for 84% of the total number of claims filed in Florida. Within the residential property category, claims counts are as follows:
— 509,862 homeowner claims
— 81,005 dwelling claims
— 47,713 mobile homeowner claims
— 7,906 commercial residential claims
Other lines of business claims account for 10% of the total Hurricane Irma claims, while commercial property claims represent five percent (5%). A relatively small number of claims relate to private flood coverage and business interruption.
Of the total of 772,934 insurance claims, the status is:
— 185,524 closed claims (paid)
— 128,964 closed claims (not paid)
— 458,446 open claims
— 40.7% of claims are closed
So where are all these claims being filed?
With the size of Hurricane Irma’s reach, it was the first time the entire State of Florida was under a hurricane watch. All 67 counties in Florida had claims filed due to damage caused by Hurricane Irma.
Miami-Dade County had the largest number of Hurricane Irma claims, with 98,883 claims or 13% of all total claims filed in the state. In fact, in terms of geographic location, the five most southern counties in the state, which include Broward, Miami-Dade, Palm Beach, Collier, and Monroe counties, account for nearly 36% of all total claims filed. That’s two percentage points higher than 57 out of the 67 counties combined. Other notable counties include Lee County at seven percent (7%), Polk County at six percent (6%), Brevard County at five percent (5%), and Duval County at four percent (4%).
The counties that suffered the least amount of overall damage and where the least number of claims were filed, are the counties located in the western Panhandle. Calhoun County had 21 claims filed, Gulf County had 18 claims filed, Holmes County had 18 claims filed, Liberty County had 11 claims filed, Washington County had 28 claims filed, and Franklin had 38 claims filed. Those six counties combined accounted for only 134 claims filed out of 772,934 total claims filed in the State of Florida.
The following chart shows the number of Hurricane Irma claims by line of business.
Panel Counsel List for Florida Homeowner Insurance Companies Available
Florida insurance defense law firms seeking opportunities to defend Hurricane Irma claims as panel counsel may want to reach out to the large number of Florida homeowners insurance carriers across the state and beyond.
Homeowners insurance in the Florida market is provided by dozens of Florida-based insurers, with participation as well by national and other non-domestic insurers.
We have a list of 60+ Florida homeowners insurance companies, with current contact information for the litigation panel manager. If your insurance defense law firm is interested in purchasing a list to assist in your business development efforts, contact insurance defense marketing consultant Margaret Grisdela at 1-866-417-7025, via email, or connect with Margaret Grisdela on LinkedIn.
Insurance Defense Marketing Consultant for Law Firms
If your insurance defense law firm is asking how you can get on more insurance panels, give us a call. We have helped more than 100 insurance defense law firms pursue new insurance panel counsel clients.
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Data Source: Florida Office of Insurance Regulation, updated as of October 20, 2017