After months of talking and insisting some, the Florida property insurance crisis is getting its special session. On Monday morning, lawmakers entered the Capitol.
High prices worry consumers, corporations leaving the state, and some of them go under. What are lawmakers going to do to help? We’ll find out in a few days.
Two major bills are being considered during a five-day special session this week, covering a wide range of reforms that Republican members say balance, “spending and protecting consumers, while adding reasonable barriers to insurance companies from frivolous litigation and fraud. raising rates for everyone ”.
Roofing will get a major overhaul to curb what insurers say is a rash of unethical claims.
Vendors are allowed to offer separate deductibles for repairs and replacements other than the loss of trees or hurricanes.
Insurers also cannot waive the policy because the roof is under 15 years old.
RELATED: Florida Roofing Company Encourages Homeowners to Claim Storm Damage Insurance Through Text
Dispersal of frivolous lawsuits is also in sight.
Limitations on expensive attorney fees and higher burden of proof to win in an unscrupulous lawsuit against insurers.
The threshold for access to the Hurricane Catastrophe fund is also lowered, which means that during natural disasters, insurers can access funds faster and pay claims faster.
“As for what needs to be done, everything needs to be done, we’ll see, we’ll see,” said spokesman Tom Fabrizio, (R) Hialeah. “But I’m an optimist.”
Optimism that these changes will bring relief is high, although some lawmakers have said the problems needed to be addressed sooner.
“It’s really just negligence on the part of the leadership if we don’t do it right,” said Senator Tina Polski, (D) Boko Raton.
The hammer falls on Monday at 9 a.m., and if the bills get enough support in the commissions and on the floor, they can be sent to Governor DeSantis by the end of the week.
Although we haven’t seen the additional theme added to this call, there’s still time for that. Governor DeSantis at the last minute added the bills to an extraordinary session that could take place, as lawmakers, again, are due to be here by Friday.
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