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Senate roundtable in Hollywood spotlights Florida homeowners-insurance crisis and pushes federal reinsurance
Summary
At a Hollywood roundtable, senators, local officials, climate scientists and homeowners described rapidly rising premiums, cancellations and insurer market instability that threaten homeownership and could ripple through mortgage markets; witnesses urged federal reinsurance and more adaptation funding.
Senator White house, chair of the Senate Budget Committee, opened a roundtable in Hollywood, Florida, warning that the states homeowners-insurance crisis is a preview of risks facing other coastal states and could cascade into mortgage market strain and broader economic harm.
The committee heard personal testimony from homeowners and local leaders who said premiums have surged, private carriers have withdrawn, and many residents are being shifted into Citizens (Floridas insurer of last resort) or forced to choose unfamiliar private options. "When that bill from the insurance company comes through your mail slot, tripling your rates, that is climate denial coming into your home," Senator White house said, linking insurer actions to climate-driven risk.
Why it matters: committee members and witnesses described a sequence: climate change increases flood and storm risk,…
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