Democratic representatives in the Florida House unveiled a planyesterday to restructure the state's Hurricane Catastrophe Fundinto a new entity modeled on the National Flood InsuranceProgram.
The proposal would establish a new state Hurricane InsuranceFund, which would offer coverage up to $500,000 with varyingdeductibles. The policies would be written by insurance companiesoffering homeowners insurance on behalf of the fund, in an effortto provide homeowners with a single point of contact.
"As a private insurance agent, I know just how unstable themarket is and how expensive policies can be for most Floridians,"said Rep. Priscilla Taylor, D-Riviera Beach, the bill's sponsor."With this proposal, it is our goal to make hurricane insuranceaffordable for Floridians once more."
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