Property insurers today fired off an editorial they hope Florida
newspapers will run, accusing the state of attempting to secure
"unattainable rate decreases, regardless of the risk and with no
consideration for long-term stability."

The opinion piece is the industry's answer to Insurance Commissioner
Kevin McCarty's op-ed last week railing against insurers' decision to
use hurricane coverage discounts granted by the Legislature to beef up
their own storm defenses, rather than pass the savings on to consumers.
Though McCarty's letter mentioned only Florida Farm Bureau by name, the
indictment was aimed at the industry as a whole.

Insurers -- through the Property Casualty Insurers Association of
America and its chief lobbyist, William Stander, the author of today's
screed -- are trying to build support for a revolt against Gov. Charlie
Crist's reform. They want the state-run Citizens Property Insurance to
be reined in, more incentives for Floridians to strengthen their homes,
and more restrictions on building in high-risk areas.

For those skyrocketing insurance bills?

The industry proposes yet-higher storm deductibles, allowing premiums
to go down, and state grants to help storm victims pay those deductibles
when the wind blows.

The trade group also endorses a proposal being worked on by two
Florida congressmen: federal financing to support state catastrophe
funds. Reps. Tim Mahoney and Ron Klein are authoring a bill to create
such a program, along with the sale of catastrophe bonds, a concept
also considered by Crist's office.