When Hurricane Ike skirted past the Florida Keys last month and avoided making a direct hit on South Florida, State Senator Jeremy Ring (D-Margate) had one thought: "We just got lucky."
Now he wonders just how long that lucky streak will continue, and more importantly, how long the Florida Hurricane Catastrophe Fund will avoid paying billions in reinsurance claims.
"We have dodged a bullet temporarily," said Ring. "Citizens and taxpayers of Florida need to understand that the single biggest risk to our economy is not our property taxes or real estate regression. It's the biggest risk we haven't encountered yet."
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