Property Bill Heads to Governor Scott
The Florida legislature passed SB 408 on Thursday reflecting an effort to address concerns in the property insurance market. Although in some cases weeks can pass before a bill is formally presented to the Governor for action, that will not be the case with SB 408. The bill has already been presented to Governor Scott for his review and action.
The Governor has 15 days to sign the bill, allow it to become law without signature or veto it. The Governor may decide to act sooner, which would be beneficial in the case of SB 408 because many of its reforms take effect upon the bill’s becoming law.
For a summary of the key changes in SB 408 and other bills passed during the 2011 legislative session, please see the most recent edition of our Florida Insurance Report.