DeSantis sets dates for Florida special session on property insurance rates

ByMargie D. Moore

Apr 29, 2022 , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,


Printed Apr. 26|Updated Yesterday

TALLAHASSEE — Gov. Ron DeSantis on Tuesday termed Florida legislators again into a distinctive session to handle Florida’s failing assets coverage industry, an problem that was still left unresolved through the normal legislative session previously this 12 months.

The session, which is established for Could 23-27, marks the next specific session named by DeSantis in the earlier two months.

Last 7 days, lawmakers wrapped up a contentious special session on congressional redistricting maps and a last-moment monthly bill to strip The Walt Disney Co. of its specific taxing district and governing physique.

The approaching specific session will aim on residence insurance coverage, reinsurance and adjustments to the Florida building code “to strengthen the affordability of house insurance coverage,” and other connected challenges.

It comes as DeSantis and Republican lawmakers have appear beneath scrutiny for failing to stabilize the assets insurance policy marketplace in Florida.

In new a long time, homeowners’ charges have spiked by double digits in some conditions, and some providers have canceled policies or suspended organization in the state. Legislators were being not able to pass any reform initiatives on the challenge throughout their standard session previously this 12 months.

Similar: Florida Legislature leaves without having addressing property insurance policies crisis

In reaction to the contact, Property Speaker Chris Sprowls, R-Palm Harbor, said in a statement that the Legislature “made wonderful strides on meaningful residence insurance reforms in 2021, and we are now observing the favourable impacts of that get the job done.”

“We seem ahead to operating with our companions to assess whether or not there is additional we can do to tackle the availability and affordability of residence insurance plan,” he stated. “The Florida Residence will continue being largely centered on addressing the requires of the policyholders of Florida.”

Florida has accounted for 79 per cent of the nation’s homeowner’s insurance coverage lawsuits in excess of promises submitted whilst making up only 9 p.c of the nation’s property owners insurance policies statements, DeSantis reported.

“Florida citizens are viewing the consequences of this larger litigation in their climbing premiums,” he mentioned.

The governor added, “It is essential for the point out of Florida to act to stabilize the insurance market place for Florida policyholders before the 2022 Atlantic hurricane season, which starts on June 1st, 2022, and ends on November 30th, 2022.”

DeSantis announced final week that a particular session would acquire location in May, but he had not made available a date or details.


Supply link