Hurricane season could worsen P/C insurers' woes in Florida:

05/16/2010 | Insurance Journal

Property/casualty insurers in Florida voiced concern that they could suffer heavy losses from this year's hurricane season and would be forced to close down as they are experiencing dwindling revenues even before the start of the season. The industry is pinning its hopes on the state's insurance-deregulation bill, which recently cleared the Legislature but faces opposition from Gov. Charlie Crist. Insurers are getting reinsurance protection as concerns have been raised on the state-backed reinsurer's ability to pay claims in case a major storm hits the region.

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