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May 16, 2006

No Quick Fixes For Property Insurance Dilemma

by View more articles from Taxes & Insurance

Between a rock and a hard place. That’s where just about everyone is when it comes to property insurance. Insurers, drained by huge claims from the storms of the past two years and faced with skyrocketing reinsurance costs, are either pulling out of the state or raising premiums to stratospheric levels. Politicians are faced with the problem of how to keep the state’s insurer of last resort alive without decimating the budget. Property owners are faced with the certainty of huge rate increases. (more…)

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