Thursday, March 23, 2006

'Insurers still gained while Floridians lost'

Article states it's important for lawmakers and the public to know fact from fiction. After four hurricanes, major insurance companies doing business in Florida announced record losses and called for rate hikes. Some companies said they lost decades of profits and pushed for the state-funded insurance plan to pick up more of the risk. During the same time, company executives told analysts their companies would show a profit. Article states, "It's a proven posture for Florida's insurance industry: plead hardship to state politicians while still earning profits, or 'surpluses' in the case of mutual insurers." Matt Reed, Florida Today, 12/09/2004

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