Legislature's property insurance bills propose sweeping changes, including a reinsurance fund
Florida legislative leaders, in tandem with Gov. Ron DeSantis’ administration, have unveiled a comprehensive property insurance package that Republicans hope will stabilize a market in which insurers are collapsing and homeowners are getting hit with major rate hikes.
While some insurance experts had predicted only slight tweaks, the House and Senate bills unveiled would make sweeping changes, including establishing a temporary reinsurance fund that would rely on $2 billion in taxpayer money.
Other changes call for clamping down on lawsuits filed against insurance companies while at the same time blocking insurers from refusing to renew or offer policies to homeowners with roofs that are les...
