Well, it is a sound and sane decision by the insurance company. They can't afford offloading the hurricane risks of Florida on the rest of their clientele (or on their owners/shareholders) anymore.
With all the other companies withdrawing or being on a watch list for getting broke, insurance will go through the ceiling in that state.
I'm afraid this will lead to a load of uninsured property in the near future, and horrid cries for government help after the next hurricane swipes through.
style99
The_Empty_Tuple