Florida Governor Rick Scott Vetoes Citizens Property Insurance Bill Limiting Private Insurer Takeout Offers
Jun 2, 2015
A bill that would have curtailed the amount of takeout offers that Citizens Property Insurance Corporation (“Citizens”) policyholders could receive from private insurers was vetoed by Florida Governor Rick Scott today, June 2, 2015.
“This provision is inherently unfair to Citizens policyholders in that it limits policyholders’ private market options, which means they may miss an opportunity to move to a better property insurance alternative,” Governor Scott wrote in a transmittal letter explaining the reasons for his rejection of the bill, HB 1087.
The proposal would have also created a process where a policyholder returns to Citizens even though he or she is currently insured by a private market insurer.
“This perpetuates reliance on Citizens, which increases the potential for burdensome assessments,” the Governor added.
To view a summary of HB 1087, click here.
In other actions today, Governor Scott approved HB 715 relating to Eligibility for Coverage by Citizens Property Insurance Corporation by State Representative Holly Raschein, which removes the prohibition of certain improvements to major structures from being eligible for Citizens Property Insurance coverage. Effective July 1, 2015, the bill also revises provisions regarding coverage for major structures that have undergone specified changes after a date certain.
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