DeSantis calls special session for Florida property insurance

April 21, 2022April 20, 2022 Nordstrom

Many have called the state’s current situation a crisis as insurers fold and withdraw coverage. Florida Governor Ron DeSantis has announced that he is calling a special legislature session to address the widespread property insurance struggles faced in the state. The Republican state governor said that the special session will be taking place in May. DeSantis said that the special legislative session will occur in May. Its primary focus will be on the “reform of the property insurance market” and may also focus on a number of other topics. He…

Florida Citizens Insurance rates might be climbing higher soon

April 5, 2022April 4, 2022 H. Cutner

Citizens Insurance - Higher Rates Florida

The insurer of last resort might become less affordable to people across the state. Homeowners in Florida could soon find that even insuring themselves with Citizens Insurance, the last resort coverage in the state, will lead to higher premiums. The state’s battered homeowners market is forcing policies into the state-backed insurer’s hands. As a growing number of homeowners leave Florida or find themselves in liquidation, many property owners find that they don’t have a choice other than to turn to Citizens Insurance for coverage. This has left the insurer covering…

Florida insurance bills take steps nearer to becoming law

February 21, 2022February 17, 2022 Marc

Two bills meant to overcome the challenges to the industry in the state have moved ahead. Two Florida insurance bills taking aim at the rapidly rising homeowners and property rates have moved a step closer to becoming law in the state, having passed a key Senate subcommittee. Senate Bill 1728 was sponsored by Senator Jim Boyd (R-Bradenton). SB 1728 received overwhelming support in a vote by the Subcommittee on Agriculture, Environment and General Government of the Senate Appropriations Committee. The bill aims to make a string of changes. The largest…