Florida’s Insurance Bills and Scott’s Tort Reform

Sinkhole InsuranceIn Florida it only seems normal for issues to be a constant battle of back and forth until the time begins to run out and everyone realizes its now or never when it comes to legislature and insurance issues. The property insurance bill has yet to be passed. As for the other insurance bill that is trying to be passed, which is nothing more than a collection of administrative and regulatory changes, is on its way to the governor. But, things don’t look to bright for 2011 in this case.

Sinkholes have been plaguing the south-central counties of Florida for sometime. And as there has been a lack of hurricane related insurance claims, there has been an increase in sinkhole claims, but the insurance companies have yet to build a surplus in their funds. One of the bills that they are trying to pass will allow the insurers to raise all the rates by as high as 15% annually, with or without state approval.

“Lady Justice is blind, but she isn’t deaf.” Words from Senator Garret Richter, who further went on stating that all tools must be used to make the correct decisions, and to make sure all information is heard before judging an individual in a case. With this said, as part of Governor Rick Scott’s plan to make the state of Florida the most pro-business state within the country, he has campaigned on a tort reform, but he wasn’t alone, as many lawmakers were also on his side about this. Part of this would allow all the faults of all parties to be a liability in all cases.

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