It's been nearly seven years since Florida was hit by a major hurricane, but state leaders aren't taking any chances.
Tuesday, they decided to shrink the state's role in back-stopping property insurance coverage.
The result could be higher premiums because rates will now be more dependent on the global insurance market, and if those rates go up there's not much state regulators can do about it.
The official in charge of the fund expects rates to climb by about 2 percent, but consumer advocates say that number could be closer to 10 percent.
"We're subjecting the state and homeowners to all sorts of potential catastrophes, like Fukushima in Japan or, you know, anything that happens all over the world could affect insurance prices in Florida, and these reinsurance companies aren't regulated," said Brad Ashwell with Florida PIRG.
If a hurricane does hit Florida, private global companies will cover more of the damages not the state fund.
Currently, everyone with insurance in Florida pays a monthly fee to cover that fund's losses during the 2004 and '05 hurricane seasons.