Found this via WallStPedia.com http://www.gainesville.com/article/20081004/NEWS/810059993/-1/SPORTS0102?Title=Is_Florida_in_danger_of_going_bankrupt
Everybody in the insurance industry has known since last year that the state of FL has become a ticking time bomb in the name of (relatively) lower premiums. They’re assuming the FEDs will bail them out; effectively the rest of the nation is subsidizing the risk for FL homeowners.