Insurance Broker Highlights Big Changes for Property Insurance in 2023

2022’s natural disasters had a huge impact on the property insurance industry, so he recommends homeowners study their policies to ensure they understand how their coverage might be changing.

An aerial view shows hurricane-damaged property.
An aerial view of damaged property in Fort Myers Beach, Fla., after Hurricane Ian.
(Image credit: Jeffrey Greenberg, Universal Images Group via Getty Images)

“Fires and storms made 2022 one of the most costly years to the insurance industry, leading to the failure of several companies across the country,” says Karl Susman, a Los Angeles-based insurance broker. “Unlike ‘what happens in Vegas stays in Vegas,’ where property insurance is concerned, what happens anywhere across the country has the potential to impact the rates that we all pay for coverage.”

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H. Dennis Beaver, Esq.
Attorney at Law, Author of "You and the Law"

After attending Loyola University School of Law, H. Dennis Beaver joined California's Kern County District Attorney's Office, where he established a Consumer Fraud section. He is in the general practice of law and writes a syndicated newspaper column, "You and the Law." Through his column he offers readers in need of down-to-earth advice his help free of charge. "I know it sounds corny, but I just love to be able to use my education and experience to help, simply to help. When a reader contacts me, it is a gift."