Property Insurance Dilemma Could Get Special Florida Legislative Session

Lawmakers are calling for the opportunity to work on this critical state in the issue.
Senator Jeff Brandes (R-St. Petersburg) has formally asked his colleagues to support the call he made to hold a special legislative session to focus on the Florida property insurance crisis.

The state has been losing insurers as they withdraw or go into liquidation.

‘We can no longer wait on this issue,’ said Brandes, who issued a ‘template letter’ to his colleagues so those lawmakers could send it to the Department of State. The goal is to have the polling process begin to require a special legislative session specifically for addressing the issue of Florida property insurance.

Insurers in the state have been withdrawing from a market they are finding impossible, while others have landed in liquidation. Policyholders are watching their premiums skyrocket or have experienced non-renewals or cancellations.

Citizens, the insurer of last resort, has bloated with policies once again and is covering far more properties than it was designed for.