An insurance advocacy group last week urged creation of a privately run state insurer to remove the private sector from providing hurricane insurance in Florida.
Americans For Insurance Reform issued a report asserting that with increasing numbers of carriers leaving the state, others threatening massive cancellations and skyrocketing prices, the time for fixing the current system has passed.
The group proposed creation of a privately run state insurer for the hurricane wind portion of homeowners' insurance coverage, with all of the wind business written by this entity.
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