Insurance rates to continue going through the roof

You can say we were guilty of media hyperbole and doom-sdaying. But we’ll categorize it as the story is still unfolding and not in a good way.

About this time last year, we wrote that “rising property insurance rates are on the verge of popping Florida’s housing bubble and the economy — all because of lawsuits.”

We quoted an insurance analyst who spent six months studying Florida’s property insurance industry saying: “Florida’s P&C market is in a free-fall collapse. This market is going to fail.” We quoted a judge who tried thousands of insurance cases and told us: “The sky is falling. It is a financial crisis for the citizens of this great state.”