Search
 

Florida’s Property Insurance Bill Advances

Florida’s property insurance reform bill SB 408 received approval on April 5 from its final Senate committee. In its wake came a frenzy of negative media coverage.

By Joan E. Collier | Updated on April 06, 2011

Florida’s property insurance reform bill SB 408 received approval on April 5 from its final Senate committee. In its wake came a frenzy of negative media coverage. A MiamiHerald.com headline said the bill “benefits the industry,” presumably at the sole expense of the consumer. A story in the Sarasota Herald-Tribune boldly declared it is “ … legislation intended to help Florida’s struggling carriers, while offering consumers higher rates, limited rights to challenge carriers and the public burden of paying for sinkhole damage.”

Here’s the real story: The bill will increase competition by making Florida a less-onerous place to conduct insurance business, help return Citizens Property Insurance Corp. to its roots, and hopefully prevent sinkhole claims from going the way of PIP fraud.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 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.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.