This year's massive Florida property insurance reform bill has made its way through the Senate Budget Committee, but changes to the bill irk industry representatives.
State Sen. Mike Fasano, R-New Port Richey, was successful on two fronts—getting rid of a provision dealing with replacement-cost methodology and repealing file-and-use.
Provisions in the bill (SB 408), before Fasano's tinkering, had called for changes to the way the industry pays for damages to homes, allowing them to pay some initial costs and then pay the rest when homeowners provide a contract with a contractor for repairs or replacement. Fasano's amendment keeps the status quo where insurers have to pay all costs up front.
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