Fixing Florida's Insurance Crisis

Allstate Floridian, which has 270,000 customers statewide and is the state's third largest carrier, wants to raise rates by an average 24.2 percent.

A second Allstate company, Allstate Floridian Indemnity, is asking permission to raise rates by an average 33.6 percent statewide.

"So we're trying to find solutions to that problem," said Gov. Jeb Bush. "Which is not going to go away over night and if we can bring additional capital to the reinsurance market, rates will go down.”

Allstate already raised rates once this year by as much as 50 percent.


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