The State of Florida Remodeling: Post-Irma Recovery to Impact Reinsurance Talks

Advanced data services enable carriers to assess the true risk on their books

Following the costliest year on record for weather disasters, with U.S. catastrophe insured losses alone surpassing $134 billion, reinsurers are reevaluating premium pricing for Florida-impacted carriers. How are carriers validating the risk on their books to capture all recent remodeling activity ahead of January reinsurance negotiations?

The latest research from BuildFax explores Florida remodeling activity post-Irma and its implications on upcoming catastrophe negotiations.

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"Residential remodeling increased 20.29 percent in Florida in the year after Irma compared to the year prior."

"Nearly 80 percent of roofs in Florida are more than 11 years old, with only 12.6 percent of roofs less than 5 years old."