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Florida s insurance commissioner doesn t support cap on rate increases

Florida s insurance commissioner doesn t support cap on rate increases
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Insurer Accountability Package Passes First Senate Committee

Desperate Times: Stakeholders Urge Florida Lawmakers to Enact Insurance Reform

‘Desperate’ Times: Stakeholders Urge Florida Lawmakers to Enact Insurance Reform It’s the start of another Florida Legislative Session with a familiar theme insurers pushing for reforms they say are needed to help the state’s distressed insurance market. Only this year the need is more urgent than ever, according to industry experts and stakeholders, as consumers face unprecedent rate increases and constrictions in coverage availability. “We’re advocating that the legislature take a good look at some of the issues that are plaguing the Florida property insurance market right now to see if we can make some reforms to stabilize not only the performance of the carriers, but also the impact that has on the consumers,” said Florida Insurance Commissioner David Altmaier in an interview with Insurance Journal. “One of the major if not the major focal point for our office … is working on this very challenging time.”

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