The Chief Financial Officer of Florida has a reported plan to "force insurers to purchase more insurance from the private market," rather than from the State of Florida. (Previous reports reflected that the large insurers were not purchasing their Reinsurance from the State because their parent corporations purchased Reinsurance for them, on the so-called private market.) The office of the CFO is said to point out that private Reinsurance Premiums have actually dropped.
A spokesperson for State Farm Florida, however, suggests that other Premiums will increase if Homeowner's and other Property Insurance Companies can only buy Reinsurance from Reinsurance Companies. Jennifer Liberto, "Reinsurance Rehab on Table/CFO Sink Wants to Lower Florida's Exposure" (St. Petersburg Times Online, Fri., Feb. 8, 2008).
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