NU Online News Service, Oct. 19, 1:36 p.m. EDT

ORLANDO, Fla.–Florida’s insurance commissioner said the insurance industry has gone through a radical period of change in the past year and has come out showing the state-based system of regulation can withstand the worst of economic turmoil.

“Regardless of your party affiliation, we all must admit that this year, 2010, has been a transformational year for insurance companies and insurance regulators,” said Kevin McCarty, commissioner of the Florida Office of Insurance Regulation.

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