New Legislative Session = New Proposals for Citizens
Posted By Givens Givens Sparks || Feb 11, 2013
A recent article on thefloridacurrent.com outlined some of the upcoming proposals for how to alter Citizens Property Insurance Corporation. Proposals mentioned in a recent Senate Banking and Insurance Committee meeting included; plans to shrink the Florida Hurricane Catastrophe Fund, increase the 10 percent rate cap for Citizens, and create a clearinghouse to funnel more customers away from Citizens to private insurers.
It will be very interesting for all real property owners in Florida to pay attention to what happens in Tallahassee this year. We're at the very early stages of pre-Session 2013, but there appears to be considerable motivation to change the current status quo of property insurance in Florida.