The Florida Legislature has ratified several changes in therate-setting process for the state's property insurer of lastresort to ensure they are more actuarially sound.
In steps to bolster the Citizens Property Insurance Company thelawmakers approved a $715 million appropriation to offset theinsurer's 2005 deficit. That action would reduce the 11 percentpremium assessment faced by all property writers in the state toabout 2.5 percent.
The measure calls for the emergency assessment to be amortizedover a 10-year period.
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