WEST PALM BEACH, Fla. — The financial struggle that has come with Florida's insurance market problems was brought into focus during WPTV's live Coverage Collapse town hall in Port St. Lucie on Tuesday night.
It was a lively hour with plenty of good questions about rates, cancellations and solutions.
Near the end of the program, Doug Quinn of the American Policyholder Association — a consumer advocate group — drew applause from the town hall audience when he suggested there is not enough tight regulation of insurance companies.
WATCH BELOW: Doug Quinn has tough words for Florida regulators during WPTV town hall; State Rep. Toby Overdorf pushes back
On Wednesday, he told WPTV that residents have a right to be upset with high premiums.
"You had 12 years before Hurricane Irma hit in 2017 with no major hurricanes hitting Florida. … Between 2018 Hurricane Michael and 2022 Hurricane Ian, you had four years when insurance companies collected billions of dollars," Quinn told WPTV. "Where's all that money? And what we encourage the state of Florida to do is simply follow the money."
WATCH BELOW: 'Where's all that money?' Consumer advocate has this advice for Florida
Florida lawmakers, including state Rep. Toby Overdorf, R-Palm City, who was at Tuesday night's town hall panel, insisted that insurers are highly regulated in Florida.
That still doesn't sit well with the thousands of Florida residents who have been hit hard in the last few years by skyrocketing rates that in some cases have jumped thousands of dollars in a short period.
Click here to watch the full one-hour-long town hall.
Matt Sczesny is determined every day to help you find solutions in Florida's coverage collapse. If you have a question or comment on homeowners insurance, you can reach out to him any time.
Read WPTV's latest "Coverage Collapse" stories below:
-
Personalized pricing: How your data could dictate the price you pay
In today's digital economy, the price people see for a product might not be the price their neighbor sees — even if you're buying at the same time. Here's what to know about "personalized pricing."
Rising inflation and weakening job market raise fears of stagflation
Inflation continues to tick up, and new federal data shows a growing number of people are out of work. That combination could lead to stagflation, economists say.
Airfares are up: When to book your holiday flights for the lowest price
Airfares are on the rise again, with the latest CPI numbers show them up 5.9 percent year to year. Here's when to book your holiday flights for the lowest prices.
Prices rise in August; tariff impact on inflation under scrutiny
Consumer prices climbed 2.9% in August, up from 2.7% in July. Rising apparel, vehicle and travel costs add pressure as the Fed weighs cutting interest rates.
