Florida lawmakers examine condo insurance during special session

Florida lawmakers are striving to occur up with a remedy for the skyrocketing insurance policy premiums throughout the point out, including Central Florida.

Officers are in working day two of a exclusive session in Tallahassee. On Tuesday, they expanded the session to offer with rental insurance coverage pursuing the Surfside condo collapse that killed just about 100 persons previous 12 months in South Florida.

It is an problem they unsuccessful to deal with through the regular session.

Examine: The Florida Senate wants to fix the state’s coverage marketplace. Here’s how

For years, Florida’s property owners insurance policy market has been in disaster. In the week of the Surfside collapse, that crisis started to spread to condos.

Now, lawmakers are heading to check out and offer with both of those difficulties, but that is it and considerably to the chagrin of numerous who say the state requires to also address rental costs.

“Obviously home insurance plan does make any difference, but there are so numerous other matters that we can tackle that they aren’t ready to do,” stated Sen. Randolph Bracy, a Democrat from Orange County.

Read: Florida’s insurance policies crisis spreads to condos

With lease reform not taking place, the aim is on insurance plan for condos and houses.

“If this was a affected individual, we are just stopping hemorrhaging appropriate now,” claimed Rep. Fred Hawkins, a Republican from Osceola County. “More is going to have to be finished.”

Hawkins notes it is about striving to hold points from obtaining even worse.

Examine: Apartment setting up in flames, tenants surprise why they did not wake up faster

The prepare includes new regulations to prohibit insurance policies carriers from dropping house owners if their roof is fewer than 15 years previous, as very well as $2 billion for insurance plan providers to decrease premiums, a determine Republicans are uncomfortable with.

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