When the legislature takes the formal step of titling a bill, it is usually trying to keep the public's attention focused on the positive aspects of the bill while downplaying some of its less-appealing aspects. Such is the case when the legislature named this year's version of the property reform bill the “Homeowners' Bill of Rights Act.” Depending on one's perspective, this either signals a victory for consumers or another round of industry restrictions. In truth, it is a little bit of both. More than anything, however, it is largely a victory for the status quo. While there are positive aspects to the bill, it doesn't change one fundamental fact: the burden of paying for hurricane-related costs rests squarely on the backs on policyholders.

There is no obvious sign that this will change in the near future. Why? Governor Crist swept into office in 2006 running on a platform that mainly focused on reversing the trend of upward-heading homeowners' rates. Having survived one hurricane season without significant losses, the state could find no compelling reason to change the formula. Hence, lawmakers continued to rely on Citizens Property Insurance Corporation, the Florida Hurricane Catastrophe Fund, and policyholder assessments to pick up any losses.

Along with this stamp of approval for the status quo came the tightening of industry regulations, ending arbitration and extending the prohibition of the use-and-file rating method. Thus, even though the bill is not as drastic as its 2007 predecessor, it largely codifies the same features, the same risks, and the same promises for another year.