State Representative Jake Raburn Files Citizens Property Insurance Sinkhole Claims Bill (HB 129)
Oct 3, 2013
State Representative Jake Raburn, whose district is located within Florida’s “Sinkhole Alley,” filed HB 129 relating to Insurance yesterday, October 2, 2013. The bill, which would amend s. 627.351, F.S., would require Citizens Property Insurance Corporation (“Citizens”) to submit a bi-annual report on the number of residential sinkhole policies issued and declined, as well as establishing a “Sinkhole Stabilization Repair Program” for Citizens’ sinkhole claims.
HB 129 specifies Citizens’ liability with respect to sinkhole claims and would require the State-run insurer to offer specified deductible amounts for sinkhole loss coverage.
A Senate companion to HB 129 has not been filed as of today.
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