New legislation is intended to acknowledge that insurance companies have not yet faced heavy regulation. As the homeowners’ insurance industry in Florida continues to scramble in crisis mode, lawmakers have introduced a new insurer accountability strategy as a part of a broader effort to control skyrocketing premiums and company insolvencies. The bill would raise fines for insurance companies that have been using bad practices. The insurer accountability bill would put higher fines in place for insurance companies with bad behaviors. The companies will also be required to do more information…
Read MoreFlorida lawmakers look to insurer accountability to overcome state crisis
