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Florida House Speaker calls for hearings amid property insurance profits report

Property insurance document with pen, calculator and glasses on desk
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Florida House Speaker Daniel Perez called for hearings to investigate a report made public by the Tampa Bay Times last month that suggests property insurance companies misled the legislature that they were financially struggling.

The claims of financial struggle came two years ago when the insurance industry was lobbying for legislation that made it harder for people to sue them. It passed. The report unveiled that the parent companies that owned those companies were making billions at the time.

Now, House Speaker Daniel Perez is calling for House hearings to get to the bottom of what happened.

“We have since learned the reports in existence at the time, but not disclosed to the legislature, that may suggest some insurance companies were using accounting tricks to hide substantial profits while telling us they were in a crisis. I have asked the insurance and banking subcommittee to conduct hearings, and they will have access to the full range of tools, including issuing subpoenas, putting witnesses under oath and hiring outside experts,” he said.

Senate President Ben Albritton also says he wants to have a firmer hand with insurance companies.

“We’ll hold insurance companies accountable for the rates they charge and the services they provide when disaster strikes. They aren’t going to manipulate the system. And, neither is any other industry. Not on my watch,” he said.

The two leaders also indirectly addressed Governor Ron DeSantis’ calls for a Florida government efficiency task force, named DOGE after the federal program. DeSantis wants the group to look into what he believes are hidden diversity equity and inclusion programs and government waste in Florida’s government agencies and universities.

Albritton points out Florida already has a government efficiency task force, but he does say Florida needs to continue to modernize. He highlighted a proposal separate from DeSantis’ to accomplish that.

“Senator Grall is sponsoring legislation by which all state agencies would be required to complete a five-year full and complete rule review process. Each agency will review 20% of all rules each year to identify if any changes, amendments, or repeals are necessary. Improved oversight of administrative rules will go a long way towards keeping government more accountable to Floridians. That’s the way government is supposed to work, in its foundation,” Albritton said.

Perez also says he’s committed to increased scrutiny—especially when it comes to budgetary spending.

“I'm challenging our budget subcommittee chairs to dive into the budget and find real savings in recurring revenue. Members, this money doesn't belong to us. It belongs to the people of Florida,” Perez said.

Neither man directly addressed DeSantis’ DOGE ask, and their described policy solutions did not include giving the governor’s task force more power to investigate. Instead the leaders are continuing to assert their independence—a move that started during the immigration special sessions earlier this year. It’s a dynamic that’s expected to play out throughout the remainder of the legislative session.

Tristan Wood is a senior producer and host with WFSU Public Media. A South Florida native and University of Florida graduate, he focuses on state government in the Sunshine State and local panhandle political happenings.