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Florida lawmakers passed a plan that could lead to larger rate increases for customers of Citizens Property Insurance Corp. and steps to curb roof-damage claims and lawsuits.
Grappling with problems in the property-insurance market, Florida lawmakers Friday passed a plan that could lead to larger rate increases for customers of the state-backed Citizens Property Insurance Corp. and steps to curb roof-damage claims and lawsuits.
But the plan was not as far-reaching as a Senate proposal that would have effectively shifted more costs to many homeowners when they sustain roof damage.
Senate Banking and Insurance Chairman Jim Boyd, R-Bradenton, said everybody “had to give a little bit” in negotiations over the bill (SB 76). But he said it would bolster an insurance market that has seen wide-ranging rate increases and policies pouring into Citizens Property Insurance.