The Real Deal Miami

Insurers react to storm

August 19, 2008 11:05AM

The arrival of Tropical Storm Fay put a halt to insurance policies in Broward and Palm Beach counties, which will hold up any home sales in the area for several days. Citizens Property Insurance Corp., the state’s largest property insurer, quit taking new policies or allowing changes to existing ones at 5 a.m. Sunday, when forecasters put Florida in Fay’s path. State Farm and Allstate, two other large insurers, also temporarily suspended new business here. Those who have not finalized property coverage likely will have to wait until storm watches and warnings are lifted in Florida after Fay passes, which is expected today and Wednesday.