evidence: Florida experienced some of the sharpest home insurance premium increases in the entire country last year and had the highest share of insurers transferring risk to reinsurance companies—two factors that are closely connected, a recent study by the National Bureau of Economic Research (NBER) found. [...] The data confirms what homeowners in the Sunshine State are painfully aware of, as they struggle with skyrocketing premiums in the midst of an ongoing crisis of the sector brought about by excessive litigation, widespread fraud and the increased risk of natural disasters in Florida. [...] According to a recent study by virtual insurance company Insurify, Florida homeowners paid an average annual premium of $10,996 in 2023—the highest in the country. The national average premium in the same year was $2,377 per year. Insurify expects Florida's home insurance premiums to continue rising in the coming month, reaching a projected $11,759 by the end of the year.