Insurance commissioner Kevin McCarty in Tallahassee  has told the Governor in a leter that this property Insurance  bill does not guarantee rate increases each year and this is the reason the bill will likely be signed this week.  We all know this is not true as the Insurance companies and the Florida cat-fund are so short of capital that rate increases are not only guaranteed by all companies, we only do not know how much by each. This is simply a political ploy as the Governor came into office by saying that he would lower Insurance prices and he cannot sign a bill that does the opposite. He now  has a scape goat in the Insurance commissioner and he will soon be out of office as he runs for the Senate position. The Florida Cat fund and  Citizens  Insurance are all scheduled for necessary rate increases and this will be to avoid  huge financial problems That have happened already recently to Magnolia and Northern Capitaal as examples. Please read the full article below as we all get ready for a wild Hurricane season;

http://www.insurancejournal.com/news/southeast/2010/05/12/109763.htm

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