X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Editors note: In light of the special session on insurance, which is expected to consider the Governor’s Property and Casualty Insurance Reform Committee, a group of newly elected House Democrats have come forward with their own plan that focuses on policyholders’ rates.

The Homeowners’ Protection Act requires that the state take a business-minded approach to begin repairing Florida’s broken insurance market and deliver meaningful rate reduction. First, to identify solutions to the insurance crisis, we must think like a business owner. Under the current circumstances, the product (windstorm insurance coverage) offered through the private sector is so costly that consumers are not willing or able to afford the product. Consensus has been reached that the underlying factor driving the high price of the product is the soaring cost of reinsurance purchased from the private market.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.