There was a newspaper article a few years ago as follows about many of the largest insurers in Florida established separate companies that pay Florida losses only with Florida premiums. If they have a big loss they can dissolve the Florida company without damaging the parent company. There's an article that was in the Wall Street Journal 9-7-2004. If you would like the website url please let me know.
As someone insured in a state other than Florida, I see this as the right thing to do. I do not want to subsidize the insurance costs of those that choose to live in higher-risk areas.