TALLAHASSEE, Fla. — Florida lawmakers are trying to come up with a solution for the skyrocketing insurance premiums across the state, including Central Florida.
Officials are in day two of a special session in Tallahassee. On Tuesday, they expanded the session to deal with condo insurance following the Surfside condo collapse that killed nearly 100 people last year in South Florida.
It’s an issue they failed to address during the regular session.
For years, Florida’s homeowners insurance market has been in crisis. In the week of the Surfside collapse, that crisis began to spread to condos.
Now, lawmakers are going to try and deal with both issues, but that is it and much to the chagrin of many who say the state needs to also address rental prices.
“Obviously property insurance does matter, but there are so many other things that we can tackle that they aren’t willing to do,” said Sen. Randolph Bracy, a Democrat from Orange County.
With rent reform not happening, the focus is on insurance for condos and homes.
“If this was a patient, we are just stopping hemorrhaging right now,” said Rep. Fred Hawkins, a Republican from Osceola County. “More is going to have to be done.”
Hawkins notes it’s about trying to keep things from getting worse.
The plan includes new regulations to prohibit insurance carriers from dropping homeowners if their roof is less than 15 years old, as well as $2 billion for insurance companies to lower rates, a figure Republicans are uncomfortable with.
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