Florida's massive property bill SB 408 was taken up on the Senate floor for a second reading today, garnering yet more amendments on its way to a third and final reading. Its next appearance will entail a debate and a final vote in the full Senate.
Supporters of the bill, sponsored by Sen. Garrett Richter, R-Naples, say the legislation is designed to create a more competitive private insurance marketplace. Opponents label it a "wish list for insurance companies."
SB 408 addresses a number of "hot topic" issues, including sinkholes, public adjusters, the Florida Hurricane Catastrophe Fund, replacement costs, and mitigation discounts.
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