Similar bills introduced in both houses of the Florida Legislature would shift coverage for hurricanes from private insurers to the state–a move that two industry organizations find objectionable.
The legislation, HB 1157 and SB 2384, introduced by Senator Mike Fasano, R-New Port Richey; and Reps. Ellyn Setnor Bogdanoff, R-Fort Lauderdale; John Wood, R-Winter Haven; and Priscilla Taylor, D-West Palm Beach, would create a Florida Hurricane Protection Program within the Florida Hurricane Catastrophe Fund. According to the bill, “The purpose of the program is to provide residential hurricane insurance coverage for properties throughout the state.”
Insurers that write residential property insurance in Florida would enter into a contract with the program where the insurer would provide property coverage but the program would issue a policy for hurricane coverage, the bill states. Hurricane coverage is defined by the bill as “coverage for loss or damage caused by the peril of windstorm during a hurricane.”
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
