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Moving quickly after a special legislative session, Gov. Ron DeSantis on Thursday signed bills to try to stem problems in the property-insurance market and to bolster the safety of condominium buildings.
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The Florida Senate on Tuesday approved a sweeping legislative package meant to combat rising property insurance rates and other problems in the state’s turbulent insurance market, creating a $2 billion reinsurance fund and writing new rules around coverage denials and attorney fees.
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A Senate committee approved two bills Monday aimed at curbing rising property insurance rates. State lawmakers came back in a special session to address soaring insurance costs and market instability, yet even the sponsor says the proposed reforms may not produce immediate results.
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Heading into a special session next week to address the state’s troubled property-insurance market, legislative leaders said late Friday they will focus on issues such as roof-damage claims, litigation and reinsurance.
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Property insurance rates are skyrocketing and Florida lawmakers promise action.
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Requests by three insurers are the latest evidence of problems in Florida’s property-insurance system, as lawmakers prepare to return to Tallahassee next week for a special session on the issue.
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Florida Chief Financial Officer Jimmy Patronis has announced five legislative proposals to combat insurance fraud ahead of the upcoming special session on property insurance.
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Faculty at Florida State University are offering insights about what’s predicted to be an above average hurricane season. They say the hurricane risk to Florida is increasing because of population growth and uncertainties from climate change.
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The financial-rating agency AM Best says further “action is essential” to stabilize Florida’s property-insurance market, as lawmakers prepare to grapple with the issue during a special session later this month.
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Time is rapidly running out on an effort to add property insurance to next week's special legislative session. A poll of lawmakers is underway to determine if they will consider property insurance in addition to redistricting. A three-fifths majority is needed in order to move forward.