MIAMI (CBSMiami) – Gov. Ron DeSantis stated Monday he’ll name a May particular legislative session to deal with issues within the property-insurance system which have led to owners dropping protection and getting hit with massive price will increase.
DeSantis made the announcement throughout an look in Jacksonville however didn’t instantly specify the dates for the session. The announcement got here a day earlier than lawmakers collect for a particular session to redraw congressional districts.
READ MORE: Parkland Woman Says She Couldn’t Cash Her Claim Check Because Property Insurance Company Had Entered Liquidation
DeSantis indicated the insurance coverage session would attempt to “bring some sanity and stabilize and have a functioning market.”
“I’m confident that we’re going to be able to get that done,” DeSantis stated whereas asserting cash for a brand new trauma heart at UF Health Jacksonville. “I am not confident we’d be able to punch it through this week. But what I will be signing this week is a proclamation to set the dates for a special session in May. We’re going to work with the legislative leaders on those dates, and it will have as the main focus the reform of the property-insurance market.”
DeSantis stated the particular session might tackle different points that didn’t get resolved through the common legislative session, which ended March 14. Among the high-profile points that didn’t go have been a plan to place extra necessities on condominium buildings after the lethal collapse final 12 months of the Champlain Towers South constructing in Surfside.
The House and Senate have been at odds through the common session about easy methods to tackle the property-insurance issues, with the Senate making an attempt to be extra aggressive in bolstering non-public insurers.
As an instance, the Senate proposed permitting new deductibles of as much as 2 % on roof-damage claims — an outgrowth of complaints by insurers that questionable, if not fraudulent, roof claims are driving up prices. But the House rejected the concept, which might have led to elevated out-of-pocket prices for owners who want to interchange broken roofs.
House Speaker Chris Sprowls, R-Palm Harbor, additionally stated lawmakers ought to give extra time for property-insurance adjustments made in 2021 to completely take maintain.
But troubles have continued within the insurance coverage market, with firms shedding insurance policies and searching for hefty price will increase due to what trade officers say are massive monetary losses. Two insurers, St. Johns Insurance Co., and Avatar Property & Casualty Insurance Co., have lately been positioned in state receivership due to insolvencies.
Part of the fallout additionally has led to hundreds of house owners every week acquiring protection from the state-backed Citizens Property Insurance Corp., which was created as an insurer of final resort. Citizens had 817,926 insurance policies as of March 31 and is anticipated to prime 1 million by the tip of the 12 months.
“It’s insane!” Hollywood home-owner Jose Rosario stated.
He’s determined for some reduction in property insurance coverage. “It’s very frustrating. As a matter of fact 2 weeks ago we received a bill that my escrow account was going to be depleted an addition $400, one was for taxes, one was insurance,” Rosario stated.
READ MORE: TSA Won’t Enforce Mask Policy Anymore After Florida Judge Voids US Mandate For Travel
Homeowners insurance coverage which is up about 25 % from final 12 months. Property insurance coverage legal professional John Tolley stated owners are hurting.
“I’m getting calls from clients daily at this point all throughout Florida saying, ‘I can’t get insurance’ or ‘I’m getting a notice of non-renewal’ or ‘the insurance company is requiring me to replace this roof prior to allowing me to renew the policy,’” he stated.
Carolyn LePage has lived in her home in Hollywood for greater than 30 years. “It’s very frustrating, not only are the rates going up, it’s hell to try to get somebody to cover something,” LePage stated.
She has a state-run insurance coverage plan, she doesn’t have a selection. She’s seen her coverage skyrocket.
“I’ve noticed that our insurance has gone up in the past 2 years almost 20%. I spend almost $1,800 6 times a year for my insurance,” she stated.
She’s hoping a particular session will deliver change and decrease charges.
“I would certainly hope that they reassess and evaluate, especially the state plan. We should still have options, similar to health insurance, you go to the marketplace, but you should be able to have options,” she stated.
State leaders have lengthy sought to shift insurance policies out of Citizens into the non-public market, no less than partially due to considerations about monetary dangers if the state is hammered by a serious hurricane or a number of hurricanes.
Before DeSantis’ announcement Monday, Sen. Jeff Brandes, R-St. Petersburg, launched an effort to attempt to drive a particular session on insurance coverage points. Brandes used a process to ballot lawmakers about supporting a session.
Lawmakers confronted a midday Monday deadline to reply, with outcomes anticipated to be launched later Monday.
MORE NEWS: Gunfire Erupts At Golden Glades House Party, Killing One Person & Injuring Three Others
(©2022 CBS Local Media. All rights reserved. This materials will not be revealed, broadcast, rewritten, or redistributed. The News Service of Florida’s Jim Saunders contributed to this report.)