- Madison Street Strategies
NBC: Hurricane Michael Claims Reach Nearly $7B, 14% Still Unresolved
Florida officials say insured losses in the state from last year's Hurricane Michael have reached nearly $7 billion.
Newly posted figures by the state Office of Insurance Regulation show nearly 14% of the claims haven't been resolved.
The Tallahassee Democrat reports estimated insured losses were $6.9 billion as of July 26, up about $250 million from a June report.
State records show 148,347 claims had been filed from the Category 5 hurricane, which made landfall in Mexico Beach last fall and caused massive damage in parts of the Panhandle.
Last week Insurance Commissioner David Altmaier expressed concerns to Gov. Ron DeSantis and the state Cabinet about the number of unresolved claims.
He says the agency will look unfavorably on insurance companies dragging their feet on paying claims.