"My expectation is that homeowners' rates in Florida will continue to rise due to higher demand, greater perceived risk and dwindling capacity," Mr. Hartwig said.

Already this year Nationwide said it will not be writing any new policies, while Allstate has announced plans to drop an estimated 90,000 customers.

But, Mr. Hartwig had a different spin on these events than many other observers.

"Florida does not have a homeowners' crisis given moves by a dozen or so insurers to decrease their exposure," he said. "From the perspectives of insurers, Florida has a meteorological crisis for which the state is not sufficiently well-prepared."

In addition, the regulators and legislators in the state lack the "stomach" to allow rates to rise to meet the level risk that exists now.

Such tension was evident earlier this summer when Allstate announced a 28 percent rate increase through the state's "use and file" law that permits such an action with the state having the right to roll it back within 30 days if it finds it unwarranted.

State Sen. Rudy Garcia, R-Hialeah, immediately denounced the move as violating citizens' right to weigh in on rate increases.

In July, Insurance Commissioner Kevin McCarty rejected a similar filing by the Cincinnati Insurance Company for a 36.7 percent increase.