evidence: ST. JOHNS, Fla., Aug. 9, 2022—The turmoil in Florida’s homeowners insurance market is being caused primarily by the state’s outsized number of lawsuits and its commonplace fraud schemes, according to an Issues Brief published today by the Insurance Information Institute (Triple-I). "Floridians are seeing homeowners’ insurance become costlier and scarcer because for years the state has been the home of too much litigation and too many fraudulent roof-replacement schemes," said Sean Kevelighan, CEO, Triple-I. "These two factors contributed enormously to the net underwriting losses Florida’s homeowners’ insurers cumulatively incurred between 2017 and 2021." Florida homeowners pay the highest average property insurance premium in the U.S. at $4,231, nearly three times the U.S. average of $1,544, according to Triple-I’s analysis. [...] Two major hurricanes made landfall in the state in 2017 (Category 4 Irma) and 2018 (Category 5 Michael). The past three hurricane seasons (2019-2021), however, have been relatively quiet ones for Florida. Insurers are experiencing net underwriting losses in large part because Florida is the site of 79 percent of all homeowners insurance lawsuits over claims filed nationwide while Florida’s homeowners insurers receive only 9 percent of all U.S. homeowners property insurance claims, according to the National Association of Insurance Commissioners. Floridians For Lawsuit Reform estimates 130,000 property claim lawsuits will be filed in 2022, largely due to Florida’s favorable litigation environment.