Florida Governor Ron DeSantis introduced that state legislators have agreed to carry a particular session after the November 8 election and earlier than the 12 months ends, to deal with Florida’s deteriorating insurance coverage market.
The governor revealed in a current occasion in Fort Myers that the incoming Home Speaker Paul Renner and Senate President Kathleen Passidomo have been “prepared, prepared and in a position” to assist the property insurance coverage market get “on a secure footing.” DeSantis additionally stated that the Legislature would additionally present property tax rebates to these affected by Hurricane Ian within the type of an government order delaying tax cost deadlines for the impacted.
“It prices far more to exchange a roof immediately than it did simply three years in the past,” the governor stated. “So we have to do the whole lot we are able to to push again on that and combat for a extra aggressive market the place charges are incentivized to go down.”
Politico reported that that is the second time this 12 months that Florida legislators are being requested to sort out the state’s troubled property insurance coverage market. The final particular session was held in Could, whereby the state agreed to create a $2 billion reinsurance fund for personal insurers working within the state. Lawmakers additionally agreed then to speculate $150 million right into a hurricane mitigation program which might enhance the resilience of properties, whereas revising guidelines round insurance coverage litigation – a measure meant to regulate the rampant insurance coverage litigation in Florida.
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“There have been some very optimistic reforms that have been achieved,” DeSantis stated of the earlier particular session. “However there additionally have been issues we wished to try this the Legislature at the moment was not prepared to do. I believe we can try this on this particular session.”
