[tag]Florida homeowners[/tag] have railed for months about the skyrocketing cost of residential property insurance and the suffering it is causing. Theyâ€™re about to have a lot of company. [tag]Business owners[/tag] looking for [tag]commercial property insurance[/tag] are increasingly finding themselves in the same rickety boat as homeowners. And should the crisis get out of hand, the effects could reach throughout Floridaâ€™s economy.
Insurance companies that write [tag]commercial policies[/tag] for everything from strip malls to restaurants are raising premiums as much as 400 percent, dropping policies as they come up for renewal, or both. One insurer simply decided to cancel policies. [tag]North Pointe Holdings[/tag] of Southfield, Mich., said recently that it plans to cancel nearly half of its 28,000 commercial policies in Florida.
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