The Sarasota HeraldTribune, as part of its series on the property insurance market in Florida, has reported that half of the state’s insurers are making money not from insuring homes but by diverting premiums into side ventures.
The copyrighted report – How Insurers Make Millions on the Side— also says that insurance company overhead costs are 50 percent higher in Florida than the national average.
The Herald-Tribune said it spent more than a year reviewing the financial filings of more than 70 Florida-only companies.
The report can be read here.
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