Lawmakers Focus on the Property Insurance Crisis as Special Session Begins
Florida - Monday December 12, 2022: Florida lawmakers are back in Special Session this week focused on several measures to help elevate the property insurance crisis facing the state.
This is the second Special Session of the year devoted to addressing the state’s struggling home insurance market.
On Monday legislators discussed a proposal that would create a $1 billion reinsurance fund, reduce litigation costs and compel some customers to leave the state-created insurer of last resort and rejoin the private market. The proposal would force insurers to respond to claims more promptly and boost state oversight of insurers’ conduct following hurricanes.
The Senate and House bills on home insurance are identical, meaning the measure should sail through the Republican-dominated Legislature.