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More and more, critics of the insurance industry are saying that insurers are gouging consumers while running away from increased risks along America’s coastline. This has been evident in Tallahasee this legistlative session as Governor Crist and the largely Republican, and historic insurance industry allied, legislature wrestle with how to force insurance carriers to deal more even-handedly with Florida consumers.
Fueling this firestorm, Allstate Insurance Company, the second largest writer of personal lines policies in America (State Farm is the largest), just reported that its fourth quarter profits in 2006 rose 17% to a record of $ 1.21 Billion.