Florida Gov. Charlie Crist has vetoed a measure that would have permitted some insurers to charge unregulated property rates, stating that it would allow them to essentially "redline" areas of the state.
The governor said that HB 1171, the "Consumer Choice" bill–permitting unregulated rates for carriers that have a surplus of at least $200 million and a ratio of net written premium to surplus of no more than two-to-one–would hurt emerging Florida domestic companies.
His decision angered insurance industry interests, but drew praise from a consumer group.
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