Florida Panel Sets Hurricane Insurance Proposals

NU Online News Service, Feb. 16, 4:06 p.m. EST?Florida's special joint legislative committee examining hurricane issues released a report today that calls in part for home insurers to offer a range of policy coverage deductible amounts, in addition to those currently offered.[@@]

The 23-page report of the Joint Select Committee on Hurricane Insurance suggests adding 1, 3, 7, and 10 percent of policy limits deductibles as options for carriers, in addition to the current choices of 2 and 5 percent. It also has recommendations on issues such as expanding the consumer advocate's office and making it more difficult for insurers to drop policyholders who had no claims for five years.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.