A backlash against insurers is building in several coastal states where homeowner premiums have increased sharply despite several years of rising industry profits and an uneventful hurricane season in the East.
In Florida, where back-to-back hurricanes have helped some rates more than double since 2004, the state legislature yesterday approved a measure aimed at reducing homeowner premiums offered by private insurance companies by 5% to 25% or more. The legislature has been meeting since last week in a special session specifically aimed at addressing the state's insurance crisis. The measure now goes to Republican Gov. Charlie Crist, who has made insurance-rate cuts a top priority since taking office this month.
read more:http://www.realestatejournal.com/buysell/taxesandinsurance/20070124-mcqueen.html?rejpartner=mktw
Friday, January 26, 2007
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