The Sun-Sentinel is celebrating Easter with a lengthy article discussing the conflict between the Florida House and Senate on what to do on property insurance reform. (Existing reform legislation lapses on 1 January, and attempts to sell bonds to support the state cat fund haven’t gone over so well in the current credit market.)
The Senate seems to be taking a decidedly pro-consumer tack, while the House is reflecting more of a Republican lassiez-faire attitude. For a pretty good synopsis, check out the article.
There is one comment in the story that I love:
Florida Chief Financial Officer Alex Sink, who oversees Citizens as a member of the state Cabinet, said it’s time for Citizens’ premiums to start climbing so the company can build more of a cash surplus before the next storm.
“It’s not fair to the 70 percent of Floridians who are not in Citizens,” she said. “When they can’t cover their claims, guess who does? All of us.”