Reports from Florida abound that as Property Insurance Companies reported an increase of 21% in their net income in the "last year," and that Governor scott is "secretly pushing to kill Citizens Property Insurance" on the basis of increasing "free market competition" and Property Insurance rates. See Robert Trigaux, "As Gov. Scott Seeks to End Citizens Insurance, Property Insurers Rack Up Big Earnings Gains" (St. Petersburg Times Online Venture Blog, posted April 25, 2011). The post includes links and cites to the Property Casualty Insurers Association of America, the Sarasota Herald Tribune, the Florida Center for Investigative Reporting, and Florida Today newspaper.
Florida citizens would do really well to ask before the bills come due to them: What is the deal here?
For another viewpoint on the same topic, see Chip Merlin, Esq.'s post on April 26, 2011 on Property Insurance Law Blog, here.
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