Lawmakers will be back at the Capitol Tuesday, discussing ways to lower home insurance premiums for people across the state.“In a free market, we wouldn’t have to do any of these types of things. This is a regulated industry and part of that regulation is what we’re doing this week,” Sen. Jason Brodeur said. “We will. It will happen. It’s just not going to be the one we had hoped to have,” Sen. Linda Stewart said when asked if lawmakers will reach a consensus this week.Senators are considering a bill that could change how much attorneys get paid when claims get litigated.You may also have the option to pay a roof deductible for your policy.But insurance companies can’t deny you coverage under this bill if your roof is less than 15 years old.If it’s older than that, insurers can’t deny you coverage in certain cases if an inspector determines it has five good years on it.The proposals were filed late Friday night ahead of Monday’s special session.The sponsor of the bills, Bradenton-area Republican Sen. Jim Boyd, spent the first day of the special session answering questions about the proposals during a meeting with the appropriations committee.Both bills were advanced by the Senate Committee on Appropriations. “Bad actors in solicitation, legal fee issues and then the roof component are the cost drivers of the problems we’re in and I think this gets at all of those,” Boyd said.You can review the bills that have already passed here and here. Additionally, Florida Senator Randolph Bracy filed an amendment to SB 2-D, one of the bills being discussed to address the state’s property insurance issues, that would cap rent increases at 3% per 12-month period.The session will resume Tuesday at 10 a.m. Regardless of what lawmakers decide this week, homeowners will still be in a tough spot long after this special session.”We’re not going to see things turn around automatically. We’ll still see very high rate increases across the state for the near term. We’re still going to see struggling insurers and many of these insurers that might be on the brink of financial distress right now or they’re being watched carefully. We don’t know how many of those are going to survive,” said Mark Friedlander, director of the Insurance Information Institute.The full Senate adjourned after less than an hour Monday morning. Members of the appropriations committee just passed two bills within the hour that supporters hope will help Florida homeowners.State lawmakers are back in Tallahassee to work out a special session deal that Boyd hopes will provide some relief.“I believe it does balance fair cost and protections for consumers while adding reasonable guardrails for insurance companies to address frivolous litigation and fraudulent claims,” Boyd said.Boyd is the Bradenton-area sponsor of two property insurance bills that lawmakers are considering.He answered questions from his colleagues during an appropriations committee meeting that lasted most of the first day.Orange County Democrat Linda Stewart is hopeful they’ll reach a deal, but also talked about what homeowners won’t get.“Do not expect to see a rebate. That is not going to happen. Do not expect to see your rates go down yet. Those types of situations we’re going to have to deal with in a regular session,” Stewart said.That’s one of the big takeaways of this week. A special session won’t be a quick fix.Lawmakers from both chambers have until the end of the week to come up with a plan to send to the governor’s desk.Related: Florida’s frustrating home insurance situation stands as barrier to buying for manyWESH 2 Investigates: Central Florida residents stunned by soaring home insurance premiumsRelated: Florida property insurance company goes under, leaving policy holders scramblingRelated: $600 million fund available to help Florida residents struggling to save their homes
Lawmakers will be back at the Capitol Tuesday, discussing ways to lower home insurance premiums for people across the state.
“In a free market, we wouldn’t have to do any of these types of things. This is a regulated industry and part of that regulation is what we’re doing this week,” Sen. Jason Brodeur said.
“We will. It will happen. It’s just not going to be the one we had hoped to have,” Sen. Linda Stewart said when asked if lawmakers will reach a consensus this week.
Senators are considering a bill that could change how much attorneys get paid when claims get litigated.
You may also have the option to pay a roof deductible for your policy.
But insurance companies can’t deny you coverage under this bill if your roof is less than 15 years old.
If it’s older than that, insurers can’t deny you coverage in certain cases if an inspector determines it has five good years on it.
The proposals were filed late Friday night ahead of Monday’s special session.
The sponsor of the bills, Bradenton-area Republican Sen. Jim Boyd, spent the first day of the special session answering questions about the proposals during a meeting with the appropriations committee.
Both bills were advanced by the Senate Committee on Appropriations.
“Bad actors in solicitation, legal fee issues and then the roof component are the cost drivers of the problems we’re in and I think this gets at all of those,” Boyd said.
You can review the bills that have already passed here and here.
Additionally, Florida Senator Randolph Bracy filed an amendment to SB 2-D, one of the bills being discussed to address the state’s property insurance issues, that would cap rent increases at 3% per 12-month period.
The session will resume Tuesday at 10 a.m.
Regardless of what lawmakers decide this week, homeowners will still be in a tough spot long after this special session.
“We’re not going to see things turn around automatically. We’ll still see very high rate increases across the state for the near term. We’re still going to see struggling insurers and many of these insurers that might be on the brink of financial distress right now or they’re being watched carefully. We don’t know how many of those are going to survive,” said Mark Friedlander, director of the Insurance Information Institute.
The full Senate adjourned after less than an hour Monday morning. Members of the appropriations committee just passed two bills within the hour that supporters hope will help Florida homeowners.
State lawmakers are back in Tallahassee to work out a special session deal that Boyd hopes will provide some relief.
“I believe it does balance fair cost and protections for consumers while adding reasonable guardrails for insurance companies to address frivolous litigation and fraudulent claims,” Boyd said.
Boyd is the Bradenton-area sponsor of two property insurance bills that lawmakers are considering.
He answered questions from his colleagues during an appropriations committee meeting that lasted most of the first day.
Orange County Democrat Linda Stewart is hopeful they’ll reach a deal, but also talked about what homeowners won’t get.
“Do not expect to see a rebate. That is not going to happen. Do not expect to see your rates go down yet. Those types of situations we’re going to have to deal with in a regular session,” Stewart said.
That’s one of the big takeaways of this week. A special session won’t be a quick fix.
Lawmakers from both chambers have until the end of the week to come up with a plan to send to the governor’s desk.
Related: Florida’s frustrating home insurance situation stands as barrier to buying for many
WESH 2 Investigates: Central Florida residents stunned by soaring home insurance premiums
Related: Florida property insurance company goes under, leaving policy holders scrambling
Related: $600 million fund available to help Florida residents struggling to save their homes
