Florida CFO Jimmy Patronis joins “Fox & Friends” to discuss the state’s property insurance crisis as residents reel from Hurricane Milton.
Floridians are just starting to get back on track after Hurricane Milton hit the state. But some residents are especially upset about the lack of insurance coverage.
Chief Financial Officer Jimmy Patronis Participate in “Fox & Friends” Friday told the story of an uninsured 70-year-old man whose home suffered devastating damage from an on-the-scene perspective.
”[He] “He was probably about 70 years old. He lived next door to a woman who was in her 80s,” Patronis told Fox News’ Steve Doocy. And they became neighbors, and he became her caregiver. He actually lives with her now. Her house was unharmed, but his house was destroyed. ”
“He was uninsured and his main income was Social Security. This was a gated retirement community…but unfortunately, you know, he told me…he I started crying and he said, ‘Jimmy, this isn’t your fault…’ These were my own bad decisions and I should have been more prepared for this in my life. But it could have happened later, and it did,” the CFO explained.
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fox weather 17 deaths confirmed Milton as of Friday morning after the storm made landfall in Siesta Key, Florida late Wednesday night as a Category 3 hurricane.
Florida Chief Financial Officer Jimmy Patronis encouraged Milton victims to contact Hope Florida and FEMA for recovery and relief assistance. (Getty Images)
Power and other utilities are slowly being restored across Florida after Hurricane Milton tore through the state for less than 12 hours, leaving more than 4 million people without power and flooding neighborhoods at its peak.
Florida’s CFO claimed Friday that the person he spoke with is eligible to participate in Hope Florida’s travel trailer program. Hope Florida is a nonprofit organization that brings together public and private sector services to support, find and provide resources to single parents, seniors, people with disabilities, veterans, and others.
Patronis said the individual will not only be provided with a temporary travel trailer, but will also be eligible for FEMA assistance. FEMA said In a press release Thursday In response to Milton, we launched a 24-hour supply, volunteer organization, and response asset effort, and revealed that more than $344 million has already been distributed to victims of Hurricane Helen.
Brevard County Sheriff Wayne Ivey talks about search and rescue operations at Barney & Co. during Hurricane Milton.
Patronis also highlighted the importance of having homeowners insurance even if your mortgage is paid off.
“We told people it would take 12 to 18 months to fix it because there was a man-made problem in Florida that had to be fixed,” he explained. ” [insurance] Interest rates in Florida are down, but they’re going down even further. [by a] It’s single digit, not double digit. They don’t go down fast enough for me. Unfortunately, however, when large losses occur, such as those experienced during Hurricane Ian, these services have a significant financial impact. ”
The chief financial officer told FOX Business’ Stuart Barney earlier this week that if a home is damaged and its assessed value goes down, there will be a “deferral” on property taxes, and insurance premiums should go up. He said it was not.
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Jack Brewer Foundation CEO and former NFL player Jack Brewer discusses the impact of Hurricane Milton and his foundation’s efforts to provide aid to communities affected by the storm.
“So we did this After Hurricane IanA rebate system will be introduced there, but individuals will need to apply by March 1 to get their rebates back. If your home doesn’t [valuable] If it was before the storm, you should pay taxes on the house that wasn’t damaged. So, if your home is damaged, you will get a discount,” he said earlier.
“We’ve made Florida an attractive place to invest money again when it comes to the insurance market,” Patronis added Friday. “But it’s not going to happen overnight. I’m still very bullish on Florida.”
FOX Weather staff contributed to this report.
