Florida’s insurance market is facing unprecedented challenges. Since 2022, insurance premiums for condo associations across the state have increased more than 70% on average and rates will continue to rise, especially after this year’s devastating storm season with older condos being impacted the most.
“Rates will continue to rise, especially after this year’s devastating storm season. Older condos will be impacted the most,” Oscar Seikaly, CEO of Miami’s #NSIInsuranceGroup, told Tampa Bay Times.
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