Insurers protecting Florida’s homeowners are going under. And it’s not the state’s infamous storms dragging the firms down -- it’s a deluge of lawsuits and fraud.

More companies may follow the two insurers declared insolvent in recent weeks, Tampa, Florida-based Avatar Property & Casualty Insurance Co. and St. Johns Insurance Co., based in Orlando, Florida. And lawmakers failed to pass a bill that could offer a potential remedy before the state’s legislative session wrapped up earlier this month.