News
House Subcommittee Takes Long Look At Gambling
This morning the House Subcommittee on Business and Consumer Affairs met in the House Office Building lower level to discuss gaming in Florida. The House Building was simply packed with a number of stakeholders in the mix: gaming representatives, opposition, lobbyists and bystanders. The meeting started with a general update on current gaming activities in Florida. …
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Consumer choice insurance best plan
Posted: April 18, 2010 – 12:11am State Rep. Bill Proctor’s House Bill 447 — aimed at consumer choice in property insurance and deregulation of rates — heads to the state House floor Tuesday. Backers are optimistic it will pass both the House and the Senate, where a companion bill (SB 876) is moving through committees. …
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State-dominated insurance system poses threat to Florida's economy
By STATE REP. BILL PROCTOR, COMMUNITY VOICES A serious threat to Florida’s economic recovery is the possibility that a major hurricane will strike a large metropolitan area this summer or next. The resulting damage to residential and commercial properties could exceed $80 billion. Many of the claims would be the responsibility of the state. Unfortunately, …
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Put property insurance on firm ground
The Tampa Tribune Published: April 5, 2010 Property insurance in Florida, as Rep. Bill Proctor of St. Augustine says, is a house of cards. One major storm would blow it all away and with it the state’s economic future. Legislation sponsored by Proctor would begin to establish a market-based foundation for the state’s property insurance. …
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Insurance politics is costing Floridians
By Don Brown April 2, 2010 Florida is in the grip of a failing insurance regulatory system that’s unjustly taxing residents, jeopardizing their insurance security and intruding upon consumer choices. This is abundantly clear from the alarming number of property insurers that are teetering on insolvency. A recent Sarasota Herald-Tribune report revealed that “during the …
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Citizens not the best option for consumers
By Steve Pociask April 1, 2010 Imagine state government setting up a company to compete against private businesses. Suppose this government company begins selling products and services below cost, driving companies out of the market and leading to layoffs. Now, imagine the government business, realizing its prices are too low, decides to recoup losses by …
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Former Fla. governor backing consumer options
By BRENT KALLESTAD – Associated Press Writer Tallahassee politicians must ensure a robust private property insurance market to avoid a financial disaster if a major hurricane or several smaller storms strike the state this summer, former Gov. Jeb Bush said Monday. The two-term governor said it’s critical that a measure similar to one vetoed by …
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Balance insurance reform: No free-market solution for a broken market
Unfortunately, the Legislature doesn’t want to revisit one of the most creative proposals for Florida’s property insurance problem. So consumers will have to hope that the Legislature tries to improve the current system in a way that doesn’t give all the benefits to the insurers. Some legislators would “fix” the problem by letting all companies …
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Commercial real estate owners favor insurance deregulation
Insurance Friday, February 12, 2010 Legislative Agenda Orlando Business Journal – by Christopher Boyd Staff Writer Chuck Whittall, who has more than two-thirds of his firm’s retail property portfolio in hurricane-prone Florida, has a keen interest in the high cost of property insurance. The owner of Unicorp National Developments, said his Orlando development and management …
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Property insurance deregulation too costly
OTHER VOICES By Sean M. Shaw, Brad Ashwell and Bill Newton Special to the Star-Banner Published: Sunday, January 31, 2010 at 6:30 a.m. Last Modified: Saturday, January 30, 2010 at 11:23 p.m. This has been a tough year for property insurance consumers in the state of Florida. 2009 brought Floridians problems from harmful Chinese drywall …
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Maintain insurance controls, Crist says
Manatee senator’s idea to deregulate insurers is opposed by governor By Jeremy Wallace H-T Political Writer Published: Thursday, January 28, 2010 at 1:00 a.m. TALLAHASSEE – Florida Gov. Charlie Crist is already opposing a measure to deregulate the state’s insurance industry, fearing it could lead to major rate increases for homeowners. The state Legislature is …
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Rep. Bill Proctor: One big storm could wreck Florida's economic recovery
January 26, 2010 Bill Proctor My View A serious threat to Florida’s economic recovery is the possibility that a major hurricane will strike a large metropolitan area. It is estimated that the resulting damage to residential and commercial properties could exceed $80 billion. Many of the claims would be the responsibility of the state. Unfortunately, …
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Bills seek pricing deregulation on home insurance policies
South Florida Business Journal – by Oscar Pedro Musibay A controversial bill that failed to deregulate rates for Florida’s largest home insurers last year has been expanded to include all home insurance providers in the coming legislative session. Credits afforded to consumers for hurricane shutter installation and other storm-related mitigation is sure to spark more …
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Deregulation pushed by insurance advocates
By JENNIFER RICH – jrich@bradenton.com With the 2010 Florida legislative session looming, insurance industry advocates Wednesday stepped up their call for deregulating the residential property insurance market. Instead of Citizens Insurance, the state-backed insurer of last resort, “becoming the preferred market” for many, the free market should be allowed to regulate rates and give consumers …
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Don't deregulate insurance: Consumers only 'choice' would be bad
By Bill Newton, Brad, Sean M. Shaw and Sean M. Shaw, Brad Ashwell Posted: 6:05 p.m. Wednesday, Jan. 6, 2010Two legislators, Sen. Mike Bennett, R-Bradenton, and Rep. Bill Proctor, R-St. Augustine, have filed bills to deregulate residential property insurance rates in Florida. SB 876 and HB 447 would allow residential insurers to set premium rates without the approval …
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