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Florida's joint legislative budget commission approved a request Friday from the state's Department of Financial Services to spend up to $1.5 million on a consultant that would explore alternative methods for rating insurance companies.
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“I feel like the insurance market is like a mountain tumbling,” said Sen. Linda Stewart, D-Orlando.
With one lawmaker likening Florida’s troubled property-insurance market to a “mountain tumbling,” a legislative panel Friday approved a proposal to spend $1.5 million to look at alternatives for insurers to get adequate financial ratings.
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“I feel like the insurance market is like a mountain tumbling,” said Sen. Linda Stewart, D-Orlando.
Palm Beach Post editorial: Florida homeowners deserve a more comprehensive strategy to preserve property insurance and keep premiums affordable.