Our cup runneth over with water this morning over a significant portion of Florida from days-long rain and Tropical Storm Cristobal. It was just four weeks ago that most of the state was a dry wildfire hazard. As the old saying goes, “If you don’t like the weather in Florida, just wait a minute!” This past weekend, most of the Sunshine State was cloudy under Flood Warnings and Watches. Storm surge of up to six feet was predicted on parts of the upper Gulf Coast. A spin-off tornado touched down in Orlando Saturday night, damaging several homes. In South Florida, this is a continuation of record rainfall from the Memorial Day weekend and afterward. Up to 6.5” of rain fell in spots then with widespread street flooding. There’s another old saying, “If it can rain, it can flood,” and it’s a reminder that if you live in Florida, it’s certainly wise to purchase flood insurance.
We’re going to talk about urban flooding and news from the National Flood Conference this past week, which I sat in on, along with some insight from Guy Carpenter on how to improve flood insurance penetration. Just as “the sun will come out tomorrow” following the storm, so too will Florida’s economy post-coronavirus. It’s already happening. Central Florida theme parks are now slowly reopening (Legoland and Universal Orlando last week, SeaWorld Orlando and Busch Gardens Tampa this week, and Disney mid-July). The second of the state’s three-stage reopening this past Friday means Florida is back in business, employees are getting paid again, and the state economy is on the road to recovery. MLS soccer and the NBA are talking about resuming their seasons in Orlando as HQ for all the action and we’re even competing to get the Republican National Convention this summer. Onward and upward!
Up next, state budget impacts, surprising flood risks, and some hurricane season guidance, along with a generous portion of newsy insurance morsels.