Property insurance & CFO's cat fund bill linked

Sen. Jeff Atwater, R-North Palm Beach, revealed on Tuesday that the property insurance bill he's been pushing (SB 2860) to crack down on insurers is linked inextricably with CFO Alex Sink's bill (SB 2156), which would reduce risk in the catastrophe fund.

Atwater has been deep in negotiations with the Florida House about all sorts of issues on his bill; and the House is expected to take up the issue later this evening. (They're on break until 8:30 p.m.)

Sink's bill would reduce risk by forcing  insurers to buy more private reinsurance and less of the state's cheaper reinsurance. That bill has faced criticism, because it's likely to raise rates, albeit by a few percentage points.

"I think people are saying if there’s no resolution in this bill, which will hopefully bring rates down a little bit further, than is this year to let go of the other one, which we know has pressure to increase rates, even if only slightly," Atwater explained. "Together, maybe they work."

Comments

[Donald Lance]

Is Alex the only person in Tally who is looking out for the citizens? A total disgrace of elected reps.

Glad we have some enterprising reporters on the beat.

Oh, what's a few more dollars INCREASE in property insurance????? After all they saved me $240 in property taxes (except that property taxes for schools is going to double). And they saved me all that money on PIP (oops that went UP).

These people are more than willing to RAISE MY RATES and RAISE MY TAXES - after all - what's it to them???? They will be rolling in dough have they sell tehir property to CSX and for the toll road.

Sheesh!!!! Vote out each and every INCUMBENT and keep doing so until someone gets the message - political office is not for personal finacial enrichment!!!!!!

Sink does whatever Alan Katz tells her on insurance issues.

It is interesting how the SPT references an increase in insurance rates resulting from a democratic officials legislative agenda as
"albeit by a few percentage points" making it sound as though it is not material. Let a Republican suggest an increase of one red cent and there is no end to how the people are being abused.

Does anyone know why Ms. Sink is no longer Mrs. McBride?

THESE BUMS ARE ALL LIARS!!! KICK EVERY SINGLE ONE OF THEM THAT ARE UP FOR RE-ELECTION TO THE CURB IN NOVEMBER!!!