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Florida Lawmakers Take on Insurance Crisis

Protests are going on all around the state as panicked homeowners demand lawmakers address the insurance crisis.

One of the main proposals on the table would expand the state’s catastrophe fund to help insurance companies cover their losses after a major storm.

Newly-elected Chief Financial Officer Alex Sink is on board. As a member of the cabinet that oversees the state Office of Insurance Regulation, she’s on Gov. Jeb Bush’s short list of people to consult as he weighs whether to call a special session next month.

Alex Sink, Florida CFO-Elect, said, "The expansion of the CAT fund I believe is very good idea."

But whether lawmakers can come to agreement within the next week or so remains up in the air. Gov. Jeb Bush is sounding less convinced they can get it together.

"People are suffering. There’s a lot of hardship on this, and so to raise people’s expectations and then not get something done would be the last thing i would participate in," said Bush.

He talked to reporters alongside Governor-Elect Charlie Crist, who pushed for tighter regulation of insurance companies while on the campaign trail.

Sam Miller with the Florida Insurance Council says if lawmakers overreach, they could end up with a logjam.

"Everybody who ran for office has an idea, and we can’t get into all of those things in a special session," Miller said.

One thing is certain; homeowners are running out of patience.


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