Florida Legislature – Special Session on Property Insurance – Differences

The Associated Press has a good list of major differences between the House and Senate bills:

  • Homeowners could opt out of windstorm coverage (S)
  • Homeowners could opt for higher deductibles (S)
  • Homeowners could opt for covering only the amount of their unpaid mortgage (H)
  • Insurance companies who write homeowner policies in other states, but offer auto insurance in Florida would have to write homeowner policies or leave the state (H)  [The Senate bill doesn’t specify auto insurance.]
  • Create new super-catastrophe fund to pay total damages above the existing $16 million catastrophe fund, up to another $23 billion directly from tax dollars. (S)
  • The board of directors of Citizens Insurance would be removed. (H)
  • The insurance consumer advocate would be moved from the Department of Financial Services in the Cabinet to the Office of Public Counsel in the Legislature. (S)

These differences are being ironed out in the conference committee over the weekend.

About Jim Johnson

Editor and publisher of The State of Sunshine.
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