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Top regulator claims insurance rates falling in Florida

By Gray Rohrer, 01/15/2014

Insurance Commissioner Kevin McCarty says property insurance rates are decreasing in Florida.

“Our analysis of the top 30 voluntary homeowner insurers in Florida shows that rates are going down, Florida homeowners are benefitting from lower reinsurance costs and the market as a whole is more robust and competitive,” McCarty stated in a report released Wednesday.

McCarty’s office compiled the report in response to a request from Chief Financial Officer Jeff Atwater asking for information explaining why homeowners’ rates weren’t dropping along with the cost of reinsurance.

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