Yes, but I think property insurance is - and insurance companies - a different kind of cat. Here in FL we have a big scandal with unjustified increases because of our hurricanes. Our new Republican governor, Charley Crist, is going to conduct a thorough investigation. I was referring to the routine individual credit checks that have always been a part of all business and commerce.
Unlikely for the simple reason that many insurance companies have left Florida because it just isn't economical to stay.
Fact is Florida residents underpaid for insurance relative to the risk they live under. Now that the insurance rates are in-line with the risk, people are pissed. That's understandable. People were got used to underpaying.
But still, if insurance companies were making "too much money", then why aren't all the other insurance providers rushing to Florida to cash in? I'll tell you why: because Florida is New Orleans waiting to happen. Charley made that clear when he was headed for Tampa. Fortunately he turned early. But the lesson wasn't lost on insurance companies. They know they'll have to come up with billions at some point in the future and those billions aren't going to be there if people pay $400/year for insurance.