Florida lawmakers discussing homeowners
insurance during special session
Article Courtesy of WINK NEWS
By Kellie Miller
December 11, 2022
The damage and destruction from
Hurricane Ian will go down as one of the costliest natural disasters in
Additionally, many homeowners insurance
is on life support, but lawmakers promise to address that in
a special session next week.
Reliable and affordable are understandably two words you may
not think of when it comes to property insurance.
Many people in Southwest Florida actually received
cancellations or non-renewals before the storm even hit in
Then, in November, Nicole followed behind Ian. While smaller
than Ian, the dollar signs keep adding up for the insurance
companies and the costs to repair or rebuild.
Florida lawmakers will hold a property insurance
special session to consider legislation in part to improve the claims
handling process, increase oversight, improve the financial stability of
citizens, which is the insurer of last resort, and provide tax relief
and other financial assistance related to damages from Ian and Nicole.
Six private insurance companies left Florida in 2022, while more are
teetering on the edge.
And property insurance is expected to be a big issue in the regular
session coming up in March 2023.