Fla. Insurance Chief: Rate Increases May Be Needed

Companies offering hurricane and other property insurance coverage may need to raise rates because they're losing money, even though Florida hasn't had any serious storms in the past couple years, the state insurance commissioner said Tuesday.

Commissioner Kevin McCarty told Gov. Charlie Crist and Florida Cabinet members, who oversee his office, that 84 companies writing policies in the state had underwriting gains in the first six months of the year compared with 102 that had losses...

NY Times: Fla. Insurance Chief: Rate Increases May Be Needed