Severe Storms Push Florida Home Insurer FedNat to Bankruptcy.

(Bloomberg) -- FedNat Holding Co., a Florida-based homeowners insurance company, filed for bankruptcy after an increase in severe weather events in the state weighed on its balance sheet. "As an industry, the Florida property insurance industry lost over $1.6 billion in 2020 and over $1.5 billion in 2021", thanks to losses from catastrophes, higher reinsurance costs and litigation abuse, Chief Restructuring Officer Katie S. Goodman said in a sworn bankruptcy court statement. [Extracted from the article]