On Thu, 24 Aug 2006 01:30:56 +0000, NOYB wrote:


I'd like to see the insurance industry regulated the way that public
utilities like power companies are regulated.

As in many states, Florida does regulate insurance companies.

"Insurance companies are private businesses that must make a profit to
survive and fulfill their ability to pay claims filed by insureds. It is a
highly regulated, carefully controlled profit, however. Rates for nearly
all lines of insurance must be approved by the Office of Insurance
Regulation. The maximum allowable rate of return is generally 5 percent,
with 2 to 3 percent returns more typical on an actual basis. Excess profit
laws exist in several lines of insurance requiring automatic rate
rollbacks when the maximum approved profit level is exceeded. They have
been rarely activated."

From:

http://www.flains.org/public/ht_irate.html-ssi