Continuing a legacy that has resulted in the savings of at least $3.5 billion in Floridians' hard-earned tax dollars over the last four years alone, Florida TaxWatch added more than $1 billion in cost-saving options for lawmakers this year, with the release of this Report. This year's Report is the fifth in as many years from Florida TaxWatch, the independent, nonpartisan, nonprofit taxpayer research institute and government watchdog headquartered in Tallahassee.

Just one major hurricane could plunge Florida into a financial crisis as the current insurance system lacks the actuarial soundness to withstand the massive number of resultant claims. Several proposed solutions are examined.

The financing mechanisms of Florida's hurricane property insurance system are a complex as the meteorological factors that cause the devastating storms. This report details the components of the system and describes what must be done for optimal value and protection.

"With the premise it's only a matter of time before the next big hurricane strike, this report, written independently of Florida TaxWatch, details the current property insurance situation and takes a wide-ranging look at possible solutions."

Florida faces a property insurance crisis and this report details the current situation as well as recommendations for improving the solvency of the system