Florida homeowners have faced skyrocketing insurance premiums, policy cancellations, and even companies going out of business. Now, new reports suggest some insurance companies may have been hiding profits while claiming financial losses.
A recent investigation from WFTV9 in March 2025 uncovered that insurers were transferring billions of dollars to their own affiliates—while telling lawmakers and policyholders they were in crisis. This has led to legislative hearings and raised serious questions about whether Florida homeowners have been overpaying for years.
If you’re wondering how this affects your home insurance policy and potential claims, here’s what you need to know.
Are Insurance Companies Hiding Profits?
According to reports, some insurance companies in Florida may have been using accounting loopholes to hide profits while justifying massive rate hikes. This raises serious concerns for homeowners who may have unknowingly overpaid for their policies. Additionally, some legitimate claims may have been undervalued or denied, leaving policyholders without the financial support they were promised. While insurance companies have blamed storms and lawsuits for their financial struggles, lawmakers are now questioning whether that’s the full story. As a public adjusting company, we fight for homeowners, not insurance companies. If you’re unsure about your policy coverage or a recent claim, we offer free policy reviews to ensure you’re getting what you deserve.
Why Florida Lawmakers Are Investigating the Insurance Industry
After multiple home insurance companies collapsed in 2022, Florida lawmakers acted quickly to stabilize the market by limiting lawsuits and providing financial relief to insurers. However, new reports suggest that some of these companies may have been manipulating their financial reports all along.
In response, the Florida House Insurance and Banking Subcommittee has launched a full investigation to determine whether insurers were truly in financial trouble, whether rate increases were based on false claims of losses, and whether homeowners have been paying higher premiums unnecessarily. For Florida homeowners, this investigation serves as a wake-up call. If insurers have been misleading the public, they may have been underpaying claims for years, leaving homeowners without the coverage and compensation they rightfully deserve.
How This Affects Your Home Insurance Policy
If you’re a Florida homeowner, here’s what this means for you:
- Your premiums may be higher than necessary – Insurance companies may have padded their numbers while passing costs to homeowners.
- Your policy might not cover what you think it does – Now is the time to review your policy and ensure you have adequate coverage before the next storm season.
- Your past claim may have been unfairly denied or underpaid – If you’ve had a claim in recent years, it may be worth a second look. A public adjuster can reassess your claim and help you recover what you’re truly owed.
Why Homeowners Need a Public Adjuster Now More Than Ever
Public adjusters work exclusively for homeowners, ensuring you get fair treatment from your insurance company. Unlike insurance adjusters—who work for the insurance company—we advocate for you.
Here’s how we can help:
- Free 13-Point Inspection & Policy Review – Ensure your policy covers you adequately
- Home Inspections for Potential Storm Damage – Many homeowners don’t realize they have damage until it’s too late
- Reevaluating Old Claims – If you were underpaid or denied, we can help reopen the case
- Filing a New Insurance Claim – Get the maximum payout for covered damages
- Navigating Policy Changes – Ensure your coverage aligns with new regulations
Get a Free Policy Review Today
With insurance companies under investigation, now is the time to take control of your policy and claims.
📞 Call Ask An Adjuster today for a FREE home insurance policy review or to schedule a home inspection.
Source: WVTV Channel 9 “Lawmakers to investigate possibility insurance companies used ‘accounting tricks’ to hide profits”
