Florida legislature passes a massive property insurance bill
It passed mostly along party lines as Republicans used their supermajority power in both the House and Senate to reject every amendment put forward by Democrats.
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Florida lawmakers have passed a massive property insurance bill — mostly along party lines as Republicans used their supermajority power in both the House and Senate to reject every amendment put forward by Democrats.
Republicans and Democrats agreed the goal of passing property insurance legislation should be to drive down rates. But the two sides differed on how to get there. The GOP-sponsored bill takes a market-based approach. It seeks to cut back on fraud and litigation—two factors the industry says are driving up costs. Republicans say the changes will lead to lower rates.
But the measure contains no guarantees rates will go down. And that was a problem for Democrats.
The minority party also opposed a provision in the bill that would lower the eligibility threshold for Citizens Property Insurance Corporation, the state-run insurer of last resort.
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