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.
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