Far-Reaching Property Insurance Changes Head to Full Senate
Senate bill sponsor Jim Boyd describes the property-insurance industry as being in a "crisis," with financially strapped companies deciding not to provide coverage or substantially raising homeowners' rates.
March 26, 2021 at 04:05 PM
4 minute read
Sen. Jim Boyd, R-Bradenton. Credit: Florida House of Representatives The Florida Senate could be poised to take up a plan that would make far-reaching changes in the state's property-insurance system, including allowing insurers to limit amounts paid for roof damage and placing new restrictions on attorney fees in insurance disputes.
The Senate Rules Committee on Thursday approved the plan (SB 76), positioning it to go to the full Senate. The measure is dramatically different from a House property-insurance bill that, for example, does not include the proposed limits on payments for roof damage.
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