Residents of Florida were hit by two major hurricanes over a very short period this fall as Hurricane Ian caused an estimated $50-$70 billion in insured losses in late September, followed by Hurricane Nicole, which traveled a similar path in early November and caused almost a half a billion dollars in losses.

Before the hurricanes, supply chain issues affected construction across the country. However, the storms exacerbated those issues in Florida, affecting labor, lumber, concrete, plumbing and electrical supplies, to name a few factors. A recent report from CoreLogic found that costs for some supplies like lumber and plywood have leveled off or begun to drop, while prices for other construction products are still increasing.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.


  • All news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including and

Already have an account?

Patricia L. Harman

Patricia L. Harman is the editor-in-chief of Claims magazine, a contributing editor to, and chairs the annual America's Claims Event (ACE), which focuses on providing claims professionals with cutting-edge education and networking opportunities. She covers auto, property & casualty, workers' compensation, fraud, risk and cybersecurity, and is a frequent speaker at insurance industry events. Contact her at [email protected]

More from this author



Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join now!

  • Unlimited access to - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including, and
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2023 ALM Global, LLC. All Rights Reserved.