While property insurers do not have anything good to say publicly about their business in Florida, if you follow their money it continues to pour into the state. This is despite the risk from hurricanes and onerous state regulation. At least eight global insurance giants like State Farm, Hannover AG and Renaissance RE have re-entered the Florida market as reinsurers, driving down home insurance and business policy prices state wide.
Prices have dropped an average of 5-15%, and now the insurance companies are seeking state approval for rate increases. They argue that premiums are now too low, due to the size of discounts the offer for "hardening: your home, a rise in sinkhole claims, and competition from state-backed Citizens Property Insurance Co which holds their rates frozen at mid-range prices.
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