TALLAHASSEE, Fla. (AP) - Two major investment firms will stay in the running to advise Florida on expanding its hurricane catastrophe insurance fund -- even though Governor Charlie Crist wanted to exclude them.

Crist wanted to keep Lehman Brothers and J.P. Morgan from joining the "cat fund" investment team because they had brokered deals and provided securities to the state's Local Government Investment Pool, which nearly collapsed late last year.

But the other two members of the State Board of Administration refused to go along during today's board meeting.

Attorney General Bill McCollum said it would be premature to act before an investigation of the local government pool is completed. Chief Financial Officer Alex Sink was worried Crist's motion would leave only two other firms bidding to serve as senior managers for the project.

The state has received proposals from 17 firms.


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