Florida Chamber Insurance Summit Asks, Is Florida Prepared for the Next Big Storm?

New Video Released at Summit Focuses on Florida’s Insurance Challenges

ORLANDO (October 27, 2015) – Florida’s main insurance cost drivers, risk and fraud, are the topic of the Florida Chamber of Commerce’s newest educational video, released today at the Florida Chamber’s annual Insurance Summit.

The video seeks to shed light on two seldom discussed cost drivers for property insurance rates- risk and fraud.

“The insurance industry’s contribution to Florida’s economy is essential, yet the industry far too often serves as a lightning rod – attracting billboard trial lawyers that look for opportunities to sue,” said Mark Wilson, President and CEO of the Florida Chamber. “Florida is open for business, but practices that make families and businesses a target for costly fraud shatter our competitiveness and make businesses reconsider relocating or growing in our state.”

Consider the Facts:

• Florida has the highest property insurance rates in the country,
• Florida has more than 1,300 miles of coastline, and 80 percent of Florida businesses and three-fourths of all Floridians reside in low-lying coastal counties, encompassing about $2.8 trillion in property value, and
• Florida ranks second in total natural disaster risk and shoulders more than half of the entire country’s total hurricane risk.

The Florida Chamber has long supported insurance reform that will help cut down on costly fraud. The Florida Chamber’s multi-day Insurance Summit gathers business and industry leaders along with elected officials to focus on discussions that will help drive down fraud and keep Florida moving in the right direction.

Today’s topics include Florida’s Property and Casualty Market, Coastal Development, Cyber Security, Assignment of Benefits Abuse and more. Click here for the full agenda

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The Florida Chamber of Commerce is the voice of business and the state’s largest federation of employers, chambers of commerce and associations, aggressively representing small and large businesses from every industry and every region. The Florida Chamber works within all branches of government to affect those changes set forth in the annual Florida Business Agenda, and which are seen as critical to secure Florida’s future. The Florida Chamber works closely with its Political Operations and the Florida Chamber Foundation. Visit www.FloridaChamber.com for more information.