Game Card for Florida Legislature Special Session

Game Card for Florida Legislature Special Session

17 January 2007 · No Comments

On the Reuters wire can be found a nice summary of the debate the Florida state legislature will be wading through this week as they debate property insurance reform:

Both chambers began a special session on Tuesday aimed at rolling back rates for 1.3 million policy holders of Citizens Property Insurance Corp., a state-run pool that provides hurricane coverage to coastal residents unable to obtain insurance from the private market.[...]

The House and Senate plans also propose expanding the state government’s hurricane catastrophe fund by reducing the threshold private insurers must pay out to $2 billion from $6 billion.

Outstanding items of contention, according to the article include whether to permit Citizens to charge competitive rates, as well as whether to provide a state-funded pool to reinsure larger storms.

Tags: Insurance · ·