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11/02/10 - Reinsurance putting Floridians at risk



ReinsuranceBy Paige St. John
Sarasota Herald-Tribune

Never before have Floridians paid so much to protect themselves from hurricanes. Learn why the business of "Reinsurance" is costing Floridians some the highest insurance rates in the world.

A Sarasota Herald-Tribune investigation shows that since the state's last spate of hurricanes, a dramatic shift has taken place.

Two-thirds of property insurance premiums now leave Florida as unregulated payments to largely offshore reinsurers — companies that sell hurricane protection to insurers and that operate without rate control or consumer oversight.

Read Part I
Read Part II

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