Hurricanes Spur Changes In Florida Coverage
Florida Governor Jeb Bush has signed into law legislation creating a program to reimburse policyholders who paid multiple deductibles on their homeowners insurance claims in the wake of last summers string of four hurricanes.
The measure, House Bill 9A, will fund reimbursements for those homeownerscurrently estimated at 36,000through a loan from the Florida Hurricane Catastrophe Fund. The law also establishes a system where policyholders will pay one deductible per hurricane season rather than after each individual storm.
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