Florida CFO Wants More Answers About Property Rates

Florida Chief Financial Officer Jeff Atwater is still unsatisfied about property insurance rates and wants more information about why rates aren’t dropping in the Sunshine State.

This is the second time this year that Atwater has demanded answers from state regulators about why rates aren’t going down even though one of the main costs for insurers is declining.

Atwater is one of the state officials with the power to hire and fire the state’s insurance commissioner.

He sent a letter Tuesday to Insurance Commissioner Kevin McCarty asking for a detailed analysis on how much money insurers are saving on reinsurance and whether or not those savings are being passed on to consumers.

McCarty’s office said an analysis was already underway and that it will be finished by December.