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Florida Lawmakers Still Balk at Raising Homeowners' Premiums for Cat Fund

23.02.12

State lawmakers have gambled with their constituents’ money for years when it comes to dealing with Florida’s property insurance issues.

But now, many top industry analysts suggest, the odds may be turning against them after six years without a hurricane hitting Florida. Insurance experts say the Florida Hurricane Catastrophe Fund needs more money and an overhaul before a major storm or series of them strikes the state. If not, consumers could be paying massive surcharges on their insurance coverage and the state government left in financial straits for decades, they say.


Source: Insurance Journal