I have written before about my views on efforts to depopulate Citizens (see here). There is no question that Florida needs to strengthen its private insurance market and reduce the number of policies written by Citizens, which remains the largest insurer by far in the State. Florida’s legislature has tried a lot of different ways …
In my previous post on HB 245, I described the Florida legislature’s efforts to depopulate Citizens by allowing surplus lines carriers to pluck policies from Citizens. The legislation at the time allowed surplus lines insurers to take a policyholder out of Citizens unless that policyholder objected and opted out of the new surplus lines coverage. …
Another high-profile insurance bill, HB 245, passed an important first test in the Florida House yesterday. The bill is aimed at reducing Citizens’ policy count by shifting policies to surplus lines carriers. The Senate version is likely to face stiff opposition, although it seems to be on a trajectory to be one of the insurance …