Altmaier: Insurance Industry Weathering First Test In Decades

Dec 6, 2016

Florida’s top insurance regulator says despite a decade-long hurricane drought, Hermine and Matthew did not catch the industry off guard.

Insurance Commissioner David Altmaier says Florida insurers appear to be responding well to Hurricane's Hermine and Matthew.

Insurance Commissioner David Altmaier says companies remain solvent despite Hermine’s $95 million in damages and Matthew’s $730 million hit.

“Noteworthy, a very large storm but we don’t see any signs at this point and we don’t expect to see any signs that there’s an insurance company operating in these regions that would have trouble meeting their financial obligations with respect to these claims.”

Altmaier says 70 percent of Hermine’s 18,000 claims are considered closed. And he says state consumer hotlines are not being flooded with complaints from angry policy holders.