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Floridians In Action |
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Gubernatorial Candidates Position on Insurance Reform Jim Davis · Recast the Florida Hurricane Catastrophe Fund as a premium protection fund to provide an initial limited amount of hurricane coverage for all home and commercial property owners in the state. · Maximize mitigation efforts; commit sales tax revenue raised by reconstruction for the state’s mitigation fund and the premium protection fund. · Provide rate rollback to policy holder’s through insurance company savings on reinsurance or other costs. · Eliminate a state statute that allows insurers to raise rates without prior approval. · Create an insurance public counsel to represent homeowners in rate cases before the Office of Insurance Regulation · Restore the state’s valued property law, which has required insurers to pay policy limits when a property suffered more than 50 percent damage in a storm. Charlie Crist · Expand Florida Hurricane Catastrophe Fund coverage by lowering level of sustained losses for all insurers in state from the current $5.3 billion. · Require insurers selling auto insurance in Florida and who sell property insurance in other states to offer property insurance here as well. · Outlaw Florida-only subsidiaries for national insurance companies, which write policies only in this state. · Revamp Citizens Property Insurance, the state-run insurer of last resort, but not necessarily dismantle it as he originally envisioned.
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