For the third year in a row, Florida lawmakers have unveiled a major property insurance bill. The 2011 bill proposes sweeping changes to everything from sinkhole coverage to how much policyholders could get paid after damages to their home.
Two previous efforts to pass comprehensive insurance measures were vetoed by then-Gov. Charlie Crist. Even though there is now a new pro-business governor, the initial focus by the bill's main sponsor is not on rate regulation, but on the cost drivers affecting the bottom line of insurance companies.
Sen. Garrett Richter, R-Naples, chair of the Senate Banking and Insurance Committee, said that includes making substantial changes to how insurers handle sinkhole claims.
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