Fla. Senate Supports Proposed Legislation that Could Raise Insureds' Costs
Supporters say the bill will hold down premiums, but opponents say it will hurt consumers and their ability to fight insurers in court.
Amid problems in Florida’s property insurance market, a Senate committee backed a controversial proposal that could lead to many policyholders picking up more of the tab for roof damage and limit attorney fees in insurance disputes.
The Senate Banking and Insurance Committee approved a bill (SB-76) filed after regulators last year signed off on dozens of double-digit rate increases for private insurers and as the state-backed Citizens Property Insurance Corp. has seen a flood of new customers.
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