It is a constructive conspiracy. First we allow private businesses to sell mortgages. Realizing that banks could be destroyed if a hurricane destroys too many mortgaged properties we then allow mortgage sellers to demand that the property be insured upon penalty of repossession. That in turn allows insurance companies which probably own the banks anyway to charge absurd rates. The state steps in a tries to regulate the greed of the insurance companies.
Now here is the catch. Florida would be much better off if we allowed no mortgages to be sold at all and no loans at all to be made against property. That way only well funded people would be able to move to Florida. Younger couples that tend to have children would not be able to move here. Therefore we would lower the need for a very large school system. Our hospitals would have far fewer people who are unable to pay. Food stamps and welfare would also be rather rare. We don't even need to have rental units as a concept. Since we do have a very special condition for farming we would require some sort of camps for migrant farm workers. We also have no need for tourism unless we allow mortgages and rentals and that would reduce our need for ports, airports, road and rails. In essence Florida would be a place for people who are blessed with wealth and best of all our population would shrink by at least 60%. In essence the entire system conspire to expose people to hazards and degrade the quality of life. I have been in Florida since it had a tiny population. We have had less and less quality of life for the last 60 years.