It looks like the palm is shedding bark, which is a natural process for palm trees. I suggest checking with a local nursery just to be certain. Wishing you the best.
I agree with Linda, that looks like the normal shedding of the bark, it looks strange, but the rest of the palm looks healthy to me. When we lived in Florida, an awful lot of the palm trees did this. You can trim the parts that are dried and hanging down closer to the trunk of the palm until it shred all the way down, I saw a lot of gardening services doing that.
You can just pull down the dead leaves. Mine do this all the time and are still fine.
Ok thank you so much
I think from what I have read of the answers, I think, Let nature pave he way, or trim up the lose bark to make it appear Nicer' Taken care of' Tr. Good Luck!
Looks fine other than it needs someone to trim it up and make it look better.
btw...you can use the shreds for orchids! They shield the roots from the sun and help keep just a bit of moisture available as orchids don't like wet roots.