Florida Insurance Commissioner Kevin McCarty said the 54 property insurers backed by nearly $5 billion in capital that have been admitted to the state since 2006 can’t be expected to absorb all of the policies left behind when State Farm exits.

McCarty’s was answering Rep. William Proctor, R.-St. Augustine, who has called for more information on the state’s property insurance market in the wake of the veto by Gov.

Charlie Crist of Proctor’s pricing deregulation legislation (HB 1171). Supporters believe that bill would have kept State Farm from leaving the state and possibly improved the business climate for other large national insurers.

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