DeSantis called on to take immediate action to address Florida’s insurance crisis
DeSantis called on to take immediate action to address Florida’s insurance crisis | Insurance Business America
Property
DeSantis called on to take immediate action to address Florida’s insurance crisis
State senator urges Governor to “come home and take care of your state”
Property
By
Mika Pangilinan
Florida State Senator Tracie Davis has called on Governor Ron DeSantis to take immediate action and convene another special session to address skyrocketing insurance premiums and policy cancellations.
These reforms were focused on cutting down insurance fraud, excessive litigation, and one-way attorneys’ fees for property claims. They also introduced a new $1 billion Florida Optional Reinsurance Assistance (FORA) program, on top of the existing $2 billion reinsurance assistance program.
“We have the dollars and cents to help these insurance companies stay in Florida,” said Davis. “But we also have the dollars and cents to make sure that we are creating options, looking at everything we possibly can look at to ensure we’re providing savings for Floridians.”
“Unfortunately, Florida’s insurance market has become challenging in recent years,” AAA said in a statement obtained by CBS News. “Last year’s catastrophic hurricane season contributed to an unprecedented rise in reinsurance rates, making it more costly for insurance companies to operate.”
“Governor, come home and take care of your state,” she said. “We all know that he’s running for president, but we have real problems, real issues, and the crisis with property insurance.
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