While Florida has managed to reverse the trend somewhat, the risk to homeowners is set to intensify. The Senate Budget Committee found that the rate of homeowners losing their private insurance also rose in Hawaii, North Carolina, and Massachusetts. Mark Friedlander, a spokesperson for the Insurance Information Institute, said the drop reflects a series of changes in recent years to stabilize the state's private insurance market after more than a dozen companies left the state or stopped writing new policies. The commission is working to overhaul regulations to slow the trend, including requiring private insurers to sell in risky areas. As insurers of last resort try to shift more risk to the private market, home insurance premiums are expected to keep rising.

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Persons: Sheldon Whitehouse, Mark Friedlander, Hurricane Milton, Sean Rayford, Friedlander, Michael Sollen, FAIR, Steve Koller, Koller, Redfin Organizations: Committee, Harvard University's, for Housing Studies, FAIR, Citizens Property Insurance Corporation, Insurance Information Institute, Citizens, Harvard, California Insurance Commission, National Flood Insurance, erelman Locations: Florida, California, Louisiana, While Florida, Hawaii , North Carolina, Massachusetts, Grove City , Florida, Hurricane, Florida , Louisiana