Florida Senate Appropriations Subcommittee on General Government Takes Up Sinkhole Stabilization Repair Program Bill (CS/SB 416)
Mar 5, 2014
The Florida Senate Appropriations Subcommittee on General Government (“Subcommittee”) met in Tallahassee today, March 5, 2014. The agenda included the consideration of CS/SB 416 relating to Sinkhole Coverage by Senator Wilton Simpson.
The bill directs Florida’s Citizens Property Insurance Corporation (“Citizens”) to establish and manage the Citizens Sinkhole Stabilization Repair Program (“Program”). Under the Program, stabilization repair contractors would be approved by Citizens if they meet statutory requirements. The contractor would be required to provide a warranty of at least five years on repairs, in turn which Citizens would warranty. CS/SB 416 also provides that, in a dispute between a policyholder and Citizens relating to the nature or extent of stabilization repairs to be conducted under the Program, the policyholder’s sole remedy would be to proceed with repairs through the Program. Citizens’ liabilities under the Program would be limited to the policyholder’s policy limits.
Senator Simpson filed three amendments to the bill that were considered today. One, a technical amendment, was adopted, as was another amendment to authorize a 2, 5 or 10 percent deductible. The final amendment was withdrawn.
Following Senator Simpson’s explanation of the bill, the Subcommittee members asked a series of questions. There was limited public testimony because the meeting ended before the full discussion concluded.
The Subcommittee is expected to take up and vote on CS/SB 416 next week.
To access today’s meeting materials, click here.
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