WPTV

WEST PALM BEACH, Fla. — Progressive's insurance profits are now reaching a point where state regulations in Florida may force the insurer to return some money to policyholders.

The insurer's third-quarter income reportedly is over $2.5 billion, and nearly $1 billion is being set aside for policyholders.

WATCH BELOW: Progressive profits may lead to cash back for policyholders Progressive to hand out checks and credits to Florida clients after profits

"There is regulation that limits that profit, and that's a good thing for consumers," Robert Norberg of Arden Insurance in Lantana said. "All of that is now appearing to kick in, so they have to roll back the money."

A statement from the Florida Office of Insurance Regulation states the following:

"If excess profits are found, our

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