Commercial Claims

Commercial property claims are a significant aspect of Florida’s insurance landscape, influenced by the state’s susceptibility to natural disasters and unique market dynamics.

Frequency and Financial Impact of Commercial Claims:

• Hurricane-Induced Claims: In 2024, Hurricane Milton led to 9,870 commercial property claims in Florida.

• Agricultural Sector Losses: Hurricane Milton also inflicted damage on Florida’s agriculture, with losses estimated between $1.5 and $2.5 billion.

• Overall Impact: Insurers faced substantial payouts, with estimates suggesting up to $55 billion in insured losses from recent hurricanes, affecting both residential and commercial properties.

Market Dynamics and Challenges:

• Premium Growth: Florida’s commercial property insurance market saw significant premium increases, with the admitted market reaching $12.52 billion in 2023, a 42.75% year-over-year rise.

• Litigation Concerns: Despite representing only 14.9% of the nation’s homeowners’ claims in 2022, Florida accounted for 70.8% of the nation’s litigation, impacting both residential and commercial claims.

How ICE Adjusters Can Assist:

At ICE Adjusters, we specialize in managing the complexities of commercial property claims. Our services include:

• Comprehensive Documentation: We meticulously document all damages, ensuring thorough evidence to support your claim.

• Expert Negotiation: Our team advocates on your behalf to secure fair and timely settlements, adeptly navigating Florida’s unique insurance environment.

• Claims Advocacy: We guide you through the entire claims process, addressing challenges such as litigation complexities and market fluctuations, to maximize your compensation.

Partnering with ICE Adjusters ensures your commercial interests are prioritized, and we are committed to helping you recover and rebuild after property-related damages.

Data gathered from the following sources:

Florida Politics

Business Insider

Reuters

fslso.com

Floir