Hurricane losses could halt plans to shrink Florida's largest state-backed insurer, leaving thousands of policies in limbo as private insurers struggle. In Florida, there's this big insurance company called Citizens Property Insurance Corp. It's a state-backed insurer, which means it's kind of like a safety net for homeowners when private insurance companies don’t want to take on the risk, especially because Florida has so many hurricanes. Over the last couple of years, the state has been trying to move people off Citizens and into private insurance companies. They think it's too risky for the state to insure so many homes by itself. But then, Hurricane Milton hit, along with two other storms this year, and now private insurance companies might be a little nervous about taking on more customers. Bruce Lucas, the CEO of one of these insurance companies (Slide Insurance), says that after so many storms, insurance companies might not have enough money to cover more
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