Also blaming obstacles posed by obtaining reinsurance, NorthPointe Holdings Corp. of Southfield, Mich., announced in early Juneit is evaluating its commercial insurance lines in Florida andexpects to reduce its commercial policies by 40 percent, and itstotal commercial policy count by approximately 70 percent.

“Profitability is key to our business,” said CEO James Petcoffin a company release. “Recent storm activity and increases inreinsurance costs have caused us to take a closer look at ourstrategy in Florida . . . Given the level of reinsurance pricingand shrinking capacity, we have taken immediate measures tosignificantly reduce our commercial exposure in the state.”

Petcoff estimated the full impact of these measures will becomeeffective over the next 60 to 90 days. Many commercial policiesrenew July 1, and around the state — especially in South Florida —agents and policyholders are in limbo as companies seek affordablereinsurance. Some premiums reportedly have tripled and then some,and many cancellations occur when properties sell and buyers areshocked by the new level of premium. Real estate industry observersare seeing steady impact on transactions, according to publishedreports.