A Florida trade group called yesterday for halt in what it said were efforts to create paranoia and make property owners shift home insurers.
The statement came from National Association of Insurance and Financial Advisors-Florida which said efforts were being made to encourage policyholders to give up highly rated property insurance policies based on misinformation.
NAIFA's announcement came on the heels of State Farm's announcement that it has requested to begin withdrawing from the state's home insurance market in what it said would be a two year process. It also follows a statement by a Florida Hurricane Catastrophe official that the fund is $18 billion short of its required $29 billion capacity to backstop insurers.
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