Legislation could raise insurance rates, but industry says it is necessary
TALLAHASSEE — State Rep. Rick Kriseman is a reluctant expert on property insurance.
A fire torched his home. His previous Florida-based insurer faltered. His rates jumped 90 percent in the last year.
And now the St. Petersburg Democrat is sounding an alarm about legislative efforts to revamp the system to benefit property insurers at the expense of customers.
“We are making major decisions that have serious impacts on our citizens without full vetting, and that’s when bad policy comes out,” Kriseman said.
The convoluted issue is often one of the last to coalesce in the Legislature, but this year appears especially murky with Gov. Charlie Crist’s possible veto looming over the negotiations.
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