A 2022 report uncovered that while companies were claiming financial ruin and hiking premiums, they were simultaneously transferring hundreds of millions of dollars to out-of-state affiliates and shareholders.
Recent whistleblowers have alleged that some new insurers are diverting millions in customer premiums to investors rather than holding them for future claims, heightening insolvency risks. The "Insurer of Last Resort"
Deep-dive investigations have revealed troubling financial practices that go beyond simple "bad luck" with storms:
Massive hurricanes like Ian (2022) and Michael (2018) caused billions in property damage, leading to six insurer insolvencies in 2022 alone.
A 2022 report uncovered that while companies were claiming financial ruin and hiking premiums, they were simultaneously transferring hundreds of millions of dollars to out-of-state affiliates and shareholders.
Recent whistleblowers have alleged that some new insurers are diverting millions in customer premiums to investors rather than holding them for future claims, heightening insolvency risks. The "Insurer of Last Resort"
Deep-dive investigations have revealed troubling financial practices that go beyond simple "bad luck" with storms:
Massive hurricanes like Ian (2022) and Michael (2018) caused billions in property damage, leading to six insurer insolvencies in 2022 alone.
