Insurance rates are a BIG issue in Florida’s races. Looks like Allstate is trying to slip this in before the election. Check out the comments. My favorite:

Hurricane Season 2006 Profit and Loss Statement—Premiums Collected $10 Billion Dollars—Hurricane Damages Paid Out–Zero====Net Profit $10 Billion Dollars Any Questions?

TALLAHASSEE — Insurance companies say they know how you feel. They’re paying too much for insurance, too.

Allstate officials told state regulators Thursday that the increasing cost of reinsurance, backup coverage for insurers, makes it impossible for them to do business in Florida without raising premiums substantially. That would mean more than 20 percent on average for many customers, more than 30 percent for some.

In a hearing before the Office of Insurance Regulation, representatives of Allstate Floridian Insurance Company and Allstate Floridian Indemnity Company explained that the bulk of their requested rate increase is to pay for higher reinsurance costs.

The rate increases would average 22.5 percent statewide for Allstate Floridian customers and 33.2 percent for customers of the indemnity company.

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