Industry responds to Fla. official's criticism on homeowners rates

08/12/2013 | Sun-Sentinel (Fort Lauderdale, Fla.)

Florida Chief Financial Officer Jeff Atwater has argued that lower reinsurance prices should be leading to decreased homeowners insurance rates, but industry representatives responded that reinsurance is among many variables that determine a policy's premium. "Global economic conditions and catastrophic losses have contributed to rising reinsurance costs for several years. However, a soft reinsurance market does not necessarily correlate to reduced rates this year," said Donovan Brown of PCI.

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Sun-Sentinel (Fort Lauderdale, Fla.)

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