House votes to deregulate some Fla. insurance

By: Associated Press
By: Associated Press

TALLAHASSEE, Fla. (AP) — The House has voted to lift rate regulation from some property insurance policies as a move to attract bigger insurers to Florida.

The bill (HB 1171) would give consumers the choice of paying more for coverage against hurricanes and other hazards from companies that have more financial backing to pay claims.

The House passed it 105-13. The bill next goes to the Senate where a similar measure (SB 2036) is awaiting final committee action.

The bill would require companies to buy reinsurance from the state's overexposed Florida Hurricane Catastrophe Fund, but they could charge homeowners and businesses more for coverage without permission from the Office of Insurance Regulation.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
WCTV 1801 Halstead Blvd. Tallahassee, FL 32309
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 43441102 - wctv.tv/a?a=43441102
Gray Television, Inc.