NU Online News Service, May 11, 1:22 p.m. EDT--Florida Governor Jeb Bush is set to sign legislation enacting a series of hurricane-related insurance reforms including a section placing restrictions on non-renewals of homeowners policies.
Passed late last week by the state legislature, the bill, SB 1486, is designed to resolve issues that arose in the wake of last year's string of major storms. A spokesman for the governor said he intends to sign the bill, although he has not yet actually received it from the legislature.
Florida Chief Financial Officer Tom Gallagher commented that, "Following last year's devastating hurricanes, there was a clear demand from storm victims for simpler insurance policies that would allow Floridians to better understand what they are buying. This legislation is a giant step forward in providing transparency and accountability in homeowners insurance policies."
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