The  Sun-Sentinel is reporting to day that the Florida Legislature has approve a measure to allow private insurance companies to buy reinsurance at reduced rates from the state and require the insurers to lower rates equally.  This could mean a reduction of insurance rates by as little as 10% for those insured by Citizens and up to a 55% reduction for those with private insurance. 

Rising property taxes and insurance premiums have been big factors in the recent slow down in the South Florida market, so this is indeed welcome news.