/
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.
Floridaâs property insurance revamped by lawmakers
The bill 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.
Â
By Jim Saunders
Updated Apr. 30
TALLAHASSEE â 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.
“I do believe it will help the market kind of rebuild itself,” Boyd, the bill sponsor, said.
The bill, however, drew criticism from some lawmakers who said it went too far and others who said it didn’t go far enough. Sen. Annette Taddeo, D-Miami, complained about the prospect of increased rate hikes for Citizens customers.
“There is no sugar-coating this,” Taddeo said. “It literally is going to raise the rates.”
But Sen. Jeff Brandes, R-St. Petersburg, said the bill will not fix financial problems in the insurance market.
“We are on an unsustainable trajectory,” Brandes said. “This bill is 40 percent of what it needed to be.”
The Legislature is set to vote on the state budget Friday during the final day of this year s session. The state s budget runs each year from July 1 to June 30.
Lawmakers also can seek funding for individual projects or initiatives, and all together Pensacola-area lawmakers filed 44 separate appropriations requests during the 2021 legislative session.
Not all of those appropriations requests made it through and those that did still could be killed by Gov. Ron DeSantis using his line-item veto power over the budget.
Here s a look at what Sen. Doug Broxson, R-Gulf Breeze; Rep. Alex Andrade, R-Pensacola; Rep. Michelle Salzman, R-Pensacola; and Rep. Jayer Williamson, R-Pace; were able to get into the final budget.