From 2021 to 2022 seven top-rated home insurance companies in Florida have shut down, with 2024 expected to be one of the most active Atlantic hurricane seasons in history. All seven companies received an 'A' rating from Ohio based insurance rating firm Demotech, meaning they were considered financially solvent and high quality. A paper from Harvard Business School claims that Demotech is rating lower quality insurers more highly due to a lack of options in high risk areas. Demotech denies this.