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Florida CFO wants to know why Florida insurance rates haven't gone down
FLORIDA -- Property rates in Florida has the state's Chief Financial Officer demanding to know they haven't gone down.
Jeff Atwater wrote a letter to Florida's Insurance Commissioner pointing out insurance companies have long blamed higher premiums on the price they pay for re-insurance.
His letter asks "Can you please explain why a significant drop in re-insurance costs worldwide has not yet corresponded with a significant drop in property insurance rates?"
He says Floridians deserve an explanation.
No response yet from the Insurance Commissioner.