Echoing the criticism of their counterparts in the primary market, the Reinsurance Association of America is voicing concerns Florida's new property insurance law will eventually be costly to taxpayers.
The group said it sees the measure as a risky move.
Frank Nutter, president of the RAA, said "The Florida Legislature is taking a huge gamble" that Florida will collect enough revenue from discounted insurance premiums to avoid having to collect increased taxes make up for losses after a big storm loss.
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