Lawmakers are calling for the opportunity to work on this critical state in the issue.
Senator Jeff Brandes (R-St. Petersburg) has formally asked his colleagues to support the call he made to hold a special legislative session to focus on the Florida property insurance crisis.
The state has been losing insurers as they withdraw or go into liquidation.
“We can no longer wait on this issue,” said Brandes, who issued a “template letter” to his colleagues so those lawmakers could send it to the Department of State. The goal is to have the polling process begin to require a special legislative session specifically for addressing the issue of Florida property insurance.
Insurers in the state have been withdrawing from a market they are finding impossible, while others have landed in liquidation. Policyholders are watching their premiums skyrocket or have experienced non-renewals or cancellations. Citizens, the insurer of last resort, has bloated with policies once again and is covering far more properties than it was designed for. To know more about properties and mortgages, check out Space Coast Credit Union.
“With hurricane season approaching June 1, it is imperative that we do everything within our power to ensure the people we represent can obtain insurance coverage at a reasonable price,” said Brandes, whose term limits will have him leave office in the fall.
Though there will be a special session April 19, that will not be addressing Florida property insurance.
Lawmakers in the state will be heading to Tallahassee on April 19 for a brief congressional redistricting special session. That said, it will not include the subject of homeowners’ premiums.
As a result, Brandes announced that he is taking on the polling process for another special legislative session that will focus on the subject if House Speaker Chris Sprowls (R-Palm Harbor), and Senate President Wilton Simpson (R-Trilby) do not do so themselves.
Brandes requires at least 20 percent of the Legislature to file support with the Department of State in order to be able to hold a special legislative session. Should the 20 percent threshold be reached, the department would poll lawmakers within seven days. If three in five House members and three in five Senate members support the special legislative session on Florida property insurance, then it will be held.