A fascinating article written by Jason Garcia is worth a few minutes of your time. I supported the efforts to have recognized Florida’s insurance company to leverage Florida’s disaster fund. I could not understand why that legislation did not go anywhere until I read Garcia’s article.
Here is a teaser:
In January, Gov. Ron DeSanti and the Florida Legislature had a chance to save money for Florida homeowners struggling to afford the sky-high property insurance costs.
Members of a key committee in the Florida Senate were presented with a plan that could have lowered the price of homeowners’ insurance by an estimated $ 150 per year. And it would have done so without at the same time imposing hidden costs on homeowners ̵1; such as insurances that do not cover the cost of replacing a roof or legal changes that make it much harder to fight back against a major insurer in court.
The plan involved expanding a public insurance fund known as the “Florida Hurricane Catastrophe Fund.” And it had the support of a wide range of industrial interests
groups and a two-party coalition of elected representatives.
But the Big Business lobby hated it.
Now I know the rest of the story.
1 Jason Garcia. Ron DeSantis and the Florida Legislature can lower insurance prices right now. A giant insurance company stands in the way. 3 May 2022. https://jasongarcia.substack.com/p/ron-desantis-and-the-florida-legislature?s=r