Published 2 years ago

Florida lawmakers meet to try to fix state’s property insurance market

Summary by Ground News

Florida has over 100,000 lawsuits against insurance companies, while the rest of the country combined has roughly 1,000. This is a big reason why insurance companies are either going bankrupt, raising rates or canceling coverage. Florida lawmakers find themselves in a race against time and climate, as they scramble to pass some sort of deal.

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CBS Local

Florida Lawmakers Meet For Property Insurance Special Session

TALLAHASSEE (CBSMiami/AP) – Florida lawmakers are holding a special session this week in hopes of tackling the state’s troubled property insurance system. Governor Ron Desantis called the session amid widespread problems including homeowners losing their coverage and large rate hikes.Many have written to CBS4 regarding rate hikes, cancellations and even paying out of pocket for things like a new roof. Senator Jeff Brandes, who pushed for this me…

2 years ago·United States

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WPLG

Florida lawmakers meet to try to fix state’s property insurance market

Florida legislators are considering giving $2 billion in public funds to private insurance companies. Supporters aim to set up a reinsurance fund and a series of other benefits.The hurricane season begins June 1 and some residents are facing high insurance premiums, cancellations, and separate deductibles for their roofs — among other problems.“We don’t want to be in a situation where hundreds of thousands of people are losing their policies,” G…

2 years ago·Miami, United States

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WKMG

Florida lawmakers aim to stabilize market with property insurance changes

Florida lawmakers began moving forward Monday with a plan to try to bolster the state’s troubled property-insurance market, but homeowners shouldn’t expect immediate relief from soaring premiums.

2 years ago·Orlando, United States

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WESH

Special session to focus on reforming Florida's property insurance market

Regardless of what lawmakers end up passing during this special session, analysts say it will be another 18 to 24 months before homeowners start to see any relief.

2 years ago

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