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Hurricane Michael claims nearly $7B, 14% unresolved

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Posted at 9:56 AM, Aug 01, 2019
and last updated 2019-08-01 09:58:27-04

TALLAHASSEE, Fla. (AP) — Florida officials say insured losses in the state from last year's Hurricane Michael have reached nearly $7 billion.

Newly posted figures by the state Office of Insurance Regulation show nearly 14% of the claims haven't been resolved.

The Tallahassee Democrat reports estimated insured losses were $6.9 billion as of July 26, up about $250 million from a June report.

State records show 148,347 claims had been filed from the Category 5 hurricane, which made landfall in Mexico Beach last fall and caused massive damage in parts of the Panhandle.

Last week Insurance Commissioner David Altmaier expressed concerns to Gov. Ron DeSantis and the state Cabinet about the number of unresolved claims.

He says the agency will look unfavorably on insurance companies dragging their feet on paying claims.</p> Insurance companies have yet to pay about 15 percent of claims made from Hurricane Michael in the Florida Panhandle.< /p>The Tampa Bay Times reports that the law requires insurance companies to pay claims within 90 days of being filed, provided the claims are not contested.