Cat underwriting may get state help

The controversy surrounding the availability and cost of US property cover continues to rumble on. Rates in catastrophe-prone states have shot up since last year’s hurricanes, intensifying political and media attention on the insurance industry. SCOTT VINCENT reports on a Florida initiative

WHEN acquisitive US broker Brown & Brown announced its second-quarter results last week, the intermediary revealed its profits had been boosted by the rapid rate rises seen across the state of Florida this year.