Florida, how scary is the insurance problem

[Glen Wiley]

We have been looking at investment properties in Florida but the home insurance problem makes it a non-starter for me. Help me understand what the reality is:

It sounds like so many insurers have left the state that rates are very high and if you go with the insurer of last resort you are exposed to near unlimited financial liability. If their reserves are exhausted in an event then they are allowed by law to pass the overruns on to all policy holders to make up the difference.

How are Florida investors looking at the current insurance costs and future risk of high insurance costs?