According to a recent South Florida Times article, Florida’s property insurance companies say they are still losing money despite collecting billions in premiums.

“That has industry leaders, Gov. Rick Scott and Republican lawmakers hoping that a recently signed bill will make them profitable and spur competition. Proponents say that would drive down rates in the long-run and allow private insurers to compete better for some of the 1.3 million customers of the state-backed Citizens Property Insurance Corp. in hopes decreasing the exposure to taxpayers. ”

Read the entire story here