Sweeping property insurance legislation (Senate Bill 1770) is rapidly progressing through the Florida Senate and may be up for a final vote as early as today. We have not-so-affectionately named this complex bill after the iconic 1966 western movie “The Good The Bad and The Ugly.”
The good provisions in the bill include a clearinghouse within Citizens Property Insurance Corp., designed to keep out policies that belong in the private market and a new state agency designed to help private insurers find cheaper reinsurance. Other good provisions would establish an inspector general within Citizens and require that the state-run insurer follow the same procurement rules as other state agencies. These are common-sense measures.
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