“It’s in collapse. You know, we’re in free fall with the property insurance industry in our state, and our citizens are the ones who are suffering as a result of it,” Crist said during a news conference in Jacksonville.
Many private insurers have dropped policies and sought large rate increases because of financial losses, with five carriers deemed insolvent since February.
DeSantis called a special legislative session in May to try to bolster the market, but problems have continued.
Democrats have tried to pin the issue on DeSantis as he runs for re-election in November.
“Allow insurance companies to have a profit,” Crist said during the news conference. “Business needs to make a profit, I get that. But we can’t let them gouge our fellow citizens in the process and double their rates in a four-year period.”