If hurricanes hit this season, the Insuraance companies can handle up to 2  storms, but what if we hit 3 and what about next year? All Forida based Insurance companies have been forced to increase the reserve requirements and also add additional Reinsurance and so we are ready for this season if necessary! However, the rate increases will be so the Insrance companies can build up more reserves for  the long run. If this happens then  less reinsurance will be necessary and rates can be lowered eventually. This is a long range plan and will take many years  if nothing goes wrong???  This is not likely to go as planned  and much will happen to damper this situation, but we know for sure that rates will go up again by year end and the only question is how much. That will depend largely on what Citizens Insurance does as they are duscussing large increases themselves. Our Legislators in Tallahassee are fully aware of the situation and they will definitely play a role in this endeavor. Flood Insurance is finally not an issue so let’s see what happens and cross your finger’s for a mild Hurricane season. Call L & S Insurance for rate quuotes here in Florida and Please read the full article below about The likely rate increases to come again soon;

http://www.insurancejournal.com/news/southeast/2010/07/21/111586.htm

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