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Page 21 - குடிமக்கள் ப்ராபர்டீ காப்பீடு News Today : Breaking News, Live Updates & Top Stories | Vimarsana

House Looks To Stabilize Insurance Market

Apr 28, 2021 3:38 PM Tallahassee, FL – With homeowners facing increasing premiums and insurers dropping policies, the Florida House on Wednesday approved a plan aimed at shoring up the state’s property-insurance system. But legislative leaders will have to reach agreement this week on a final version of the bill (SB 76), as the House and Senate have taken far-different approaches to issues such as trying to rein in roof-damage claims. The annual legislative session is scheduled to end Friday. Rep. Bob Rommel, a Naples Republican sponsoring the House version, said lawmakers need to take action or homeowners’ premiums will continue to soar. “If we do nothing, they will double in two years,” Rommel said. “If we do nothing, they will double again in two years.” But Democrats criticized the House plan, saying it offers no guarantees that premiums would decrease. “When do we say enough is enough and hold insurance companies in Florida accountabl

Florida lawmakers eye changes to property insurance in wake of soaring rates

Florida lawmakers eye changes to property insurance in wake of soaring rates The bill would reduce the time to file a claim from three years to two.     The Florida Legislature created state-run Citizens Property Insurance Corp. to serve property owners who couldn t find coverage elsewhere. Updated Apr. 28 TALLAHASSEE — In a scramble to stop Florida’s soaring homeowners insurance rates, state lawmakers are close to passing a bill that would reduce the amount of time to file a claim and allow Citizens Property Insurance to raise its rates above 10 percent. The Florida House voted 74-43 on Wednesday on a bill that would reduce the time to file a property insurance claim from three years to two years and stop contractors and public adjusters from soliciting homeowners to file a claim.

Homeowners insurance reform heads to House floor

Homeowners insurance reform heads to House floor Damage from Hurricane Michael. Provisions about attorneys fees were added in the House Commerce Committee. Changes to homeowners’ property insurance head to the House floor after winning support in a final committee stop. The House Commerce Committee advanced legislation ( HB 305) aimed at slowing a rapid rise in rates. In the last stop, Rep. Bob Rommel, the bill sponsor, introduced two significant changes. New language allows providers to offer roofing policies that don’t cover full replacement costs and instead cover the depreciated cash value of the roof. The bill as amended would also limit when courts can applier a multiplier on attorneys’ fees.

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