Are they loosing money or is this a play on the State of Florida to get the rate hikes they want. 2 carriers stated thy made money to share holders (32 million), but told the State of Florida they lost 16 million.This is a  pre tax profit and net after owner’s and investors are paid millions in salaries and perks which bring on losses and now require rate hikes.Universal P & C  asked for an 88 million dollar rate hike by charging a 14% state wide average rate hike that was approved.State farm increses even with the   125K clients they are dropping will amount to 73 million with a 29% rate hike. According to Insurance commissioner Kevin McCarty 58% of all Insurance carriers are stating they have large losses and need to raise rates  to cover losses and try to turn a profit. All Insurance companies are stating that after years of trying to surpress rate increases w/ regulation has caused this problem, but it seems like it will happen the same either way, so you decide. This will be a huge battle in the Spring in Tall. when all the legislators are  back in full session. Our new Governor Rick Scott  is in favor of deregulation so it will happen and then we will see if rates come down, but I do not think so. Please call L & S Insurance for all your insurance needs and have us quote your home to try and save you money if we can. Please enjoy the full article and decide for yourself.

http://www.insurancejournal.com/news/southeast/2010/12/28/115935.htm