An insurance advocacy group last week urged creation of aprivately-run state insurer to remove the private sector fromproviding hurricane insurance in Florida.
Americans For Insurance Reform issued a report–”At The TippingPoint: The Homeowner Insurance Mess in Florida & How To FixIt”–asserting that with more carriers leaving the state, othersthreatening massive cancellations and skyrocketing prices, the timefor fixing the current system has passed.
The group proposed creation of a privately-run state insurer forthe hurricane wind portion of homeowners' insurance coverage, withall of the wind business written by this entity.
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