Some people are so frustrated that state lawmakers have been unwilling to make major changes to Citizens Property Insurance Corp. that they want legislators to consider privatizing part of the company. Will that cause a storm of controversy?
The stability of the Florida Hurricane Catastrophe Fund shifts with time and circumstance. The good news is that the Cat Fund currently has a large amount of money at its disposal. The bad news is that the funds exposure is huge.
An analysis developed by Citizens Property Insurance Corp. shows that Florida policyholders could be on the hook for significant assessments if the state gets hit by a major storm.
Florida lawmakers sauntered into the 2011 session promising to help businesses, end red tape and regulation, and revive the economy. However, it is clear that the insurance industry will not get everything it wants.
For the third year in a row, Florida lawmakers have unveiled a major property insurance bill. This years bill seeks to make sweeping changes to everything from sinkhole coverage to how much policyholders could get paid after damages to their home.
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