The current system of state-insurance regulation stifles product innovation, limits customer choices, increases costs and inhibits the proper functioning of fully competitive markets, according to a report done for the Financial Services Roundtables Cluff Research Fund.

Read fresh information and recaps of this month's news about Florida's people, places, and products.

EMC Insurance Group Inc. says a record amount of catastrophe losses will negatively impact operating results for the third quarter.

MGIC Investment Corp posted a wider third-quarter loss, saw more homeowners fall behind on their payments and is perilously close to reaching the maximum risk levels allowed, sending its shares down 15 percent before the bell.