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Florida’s residential insurance law SB 408 that took effect in May should bring much needed relief to homeowners who fear their property and casualty company might fail and to auditors who must offer opinions as to whether those insurers are financially fit to stay in business.

Rules that allowed insurers to operate with the thinnest of financial cushions before toppling under the weight of oversized and unpredictable claims have changed for the better. So have the requirements for all types of claims, in particular the sinkhole claims that have done more than hurricanes to afflict property and casualty companies.

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