The Florida Senate has passed a property insurance overhaul aimed at creating more competition in the private marketplace and also cut down on fraudulent sinkhole claims.
The measure (SB 408) passed on a 25-12 vote after some 50 minutes of debate Thursday. The House is also considering similar legislation.
The bill’s sponsor, Sen. Garrett Richter, R-Naples, said the bill might not fix all of the state’s insurance problems, but added that he considered it the most consumer friendly bill he’s seen this session. The legislation would free company from having to offer sinkhole coverage.
A similar proposal, minus the sinkhole provisions, was passed last year in the Senate, but vetoed by former Gov. Charlie Crist. Gov. Rick Scott said Thursday he likes many proposals in Richter’s bill.
Was this article valuable?
Here are more articles you may enjoy.
Florida Needs More – Much More – Wind Mitigation, Say Experts at OIR Summit 
Business Interruption Claims Arising From the Middle East Conflict 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
