Insurers say Florida’s legislation to manage rates is “reckless”

Rate cuts filed by some of the state’s largest insurers amount to less than 10%, below the expected reduction of 24%

A US insurance industry body has criticised moves by Florida lawmakers to reduce homeowners’ rates as “rushed, and in some cases reckless” after the state’s regulator revealed that rate cuts by some of the state’s largest insurers fell well below the predicted average reduction of 24%.