Florida Chief Financial Officer Alex Sink urged carriers at an industry conference last week to consider entering her state's huge, hurricane-prone homeowners insurance market, pledging to work together with them to craft a less hostile regulatory environment.
According to an advance text of the gubernatorial candidate's remarks, she said that "instead of three companies with 30 percent each of the [Florida] risk pie, as risk managers and leaders, doesn't it make more sense to spread that risk among more providers?"
"I believe that if I were the CEO of a major insurance company, I'd be thinking this way," said Ms. Sink, a former bank president who now heads a department that includes Florida's Office of Insurance Regulation.
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