The governor insists residents will see real savings by the end of the special session that starts next week.
Governor Charlie Crist was confident as he strode into the room to announce he’s thrilled with both the House and Senate proposals to bring Floridians real insurance reform. "I think what you’re going to see are lower rates across the board, whether it’s for citizens property or whatever,” he said. “State Farm or whatever it might be, so I think that both inland and coastal residents are going to benefit from what we do here next week. That’s what we need to do."
Crist likes elements of the House and Senate plans, including increasing a state backup fund to help private insurance companies in disasters, and a forced rate rollback for citizens’ property insurance customers.
He also wants to expand the My Safe Florida Home Program, to harden your home against storms, and a statewide building code.
The governor also supports eliminating the insurance industry’s Florida-only subsidiaries, like Allstate Floridian and State Farm Floridian.
Many homeowners have their insurance through Florida-only subsidiaries, and getting rid of them could leave hundreds of thousands of families in the lurch.
Justin Glover represents State Farm Floridian, which has over a million policy holders. He says, "Having that state subsidiary is what has allowed us to stay in this market."
Crist pledges whatever the final plan is, it will have to mandate lower insurance rates or he won’t sign it.
The special legislative session starts at 1PM Tuesday and is slated to go until midnight Monday.