Ten major issues in Florida's recent property insurance overhaul
Here are 10 key issues that lawmakers addressed: — FIGHTING FEES: Property insurers have long blamed lawsuits for driving up costs and contended that what are known as “one-way attorney fees” encourage litigation. The bill includes a phased-in requirement for Citizens customers to buy flood insurance. — NO DAY AT THE BEACH: In the insurance world, it is known as the “glidepath.” State law restricts annual rate increases that can be passed along to Citizens customers.
Continue to full article