The litigation issue and resulting loss inflation and amplification continues for Florida homeowners’ insurers, with the latest report from United Insurance Holdings (UPC Insurance) suggesting that the issue is worsening in 2021.
United (UPC) reported on Friday that it has experienced a “significant increase in litigated claims volume from Florida homeowners’ during the first quarter compared to prior periods.”
This has resulted in a need for the insurer to harden its reserves for some prior accident years.
