Special Session Closer to Goal

1-22-07

Florida lawmakers are poised to end their special session on insurance Monday with the promise of lower rates.

How much lower will depend on a lot of factors like where you live and what coverage you have.

Plans to hold a signing ceremony were cancelled, and it's not clear if that was because everyone was working so late Sunday night and wanted to rest, or because a problem has cropped up in the deal.

Conferees settled on the final details Sunday night about 6 p.m. after working through the weekend.

Rep. Marty Bowen says lower rates for everyone are on the way.

Citizens customers will dodge two planned rate hikes which would have totaled 77 percent.

To make rates go down, the state is assuming twice as much risk, perhaps as much as 40 billion dollars while it hopes there is another storm-free year.

Gov. Charlie Crist told us Sunday he was pleased, but withholding judgment. Under the plan, homeowners could see property insurance rate cuts anywhere from about five percent to more than 40 percent.


WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 5290686 - wctv.tv/a?a=5290686
Gray Television, Inc.