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Citizens Property Insurance Corporation has continued to grow at a troubling rate in recent weeks. Its policy count topped 660,000 policies at the end of July. This represents an increase of about 23,000 policies compared to its June total, meaning Citizens continues to add policies at a rate of more than 5,000 per week. Citizens […]
SB 76 adopted in the 2021 legislation drew a lukewarm reaction, even among some of the lawmakers who supported property insurance reform. One key advocate referred to the bill as accomplishing about 40% of what would be needed to improve Florida’s property insurance market. And that was before part of the law was declared unconstitutional. […]
Governor Ron DeSantis signed SB 76 into law and it takes effect July 1, 2021. The new law reflects a series of compromises reached by the Florida legislature during the 2021 session. Despite the compromises, bill sponsors believe the reforms will have a favorable effect on Florida’s residential property insurance market. Other legislators have been […]
Citizens Property Insurance Corporation, Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance, Governor DeSantis, Senate Bill 76
Governor Ron DeSantis has signed this year’s primary property insurance bill, SB 76, into law. Most of the bill’s provisions take effect July 1, 2021. The legislature passed SB 76 after extended debate leading into and during the 2021 legislative session. As is often the case during the legislative process, the final bill reflects a […]
The 2021 Florida Legislature spent several months evaluating property insurance reform proposals. The committee hearing process included testimony from Insurance Commissioner David Altmaier, Citizens Property Insurance Corporation CEO Barry Gilway and many others. Despite these months of analysis, the primary property insurance reform bill (SB 76) was amended several times in the last week of […]
The 2021 legislative session is entering its final week, barring an extension. As usual, key insurance legislation remains unresolved in the session’s final days. The session began two short months ago with Insurance Commissioner David Altmaier and Citizens Property Insurance Corporation CEO Barry Gilway discussing problems plaguing Florida’s residential property insurance market. Commissioner Altmaier later […]
Citizens Property Insurance Corporation, Florida Legislature, Insurance Regulation News, property insurance, roof coverage
Citizens Property Insurance Corporation, Office of Insurance Regulation, Florida Legislature, Insurance Regulation News, property insurance
The annual 60-day legislative session begins in Florida on March 2, 2021. This session will feature accommodations designed to limit exposures to COVID-19. This includes most public testimony being presented by video stream from an offsite location in downtown Tallahassee. From an insurance perspective, the session will include substantial discussion about the auto and property […]
