Legislators give OK to several property insurance bills

Apr 2, 2008

Panels of state legislators gave a green light Tuesday to several property insurance bills.

South-Florida Sun-Sentinel–
Apr. 2, 2008
By: Julie Patel

The House Jobs and Entrepreneurship Council and the Senate Banking and Insurance Committee each approved a similar bill that would allow insurers to offer businesses a new type of property insurance exempt from most state rate regulations and fees that offset Citizens Property Insurance Corp. deficits. The House committee also gave a thumbs-up to bills that would be a first step of a major overhaul of Citizens, the public property insurer that has become the state’s largest. A key part of that revamp would be forming a state windstorm pool. The pool would allow property insurers to shift the windstorm portion of their homeowner policies to the state.