Grist

Hurricane Ida exposed a fragile insurance industry as companies like FedNat Insurance went bankrupt, leaving homeowners in Louisiana with unpaid claims and escalating premiums. As a result, over 1.9 million home insurance policies were dropped in high-risk states between 2018 and 2023, pushing many onto expensive state-run insurance plans, with reforms in Florida and Louisiana primarily benefiting insurers over homeowners and the end result more expensive insurance for everyone.

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