Governor Charlie Crist should veto the property insurance legislation which passed (SB 2044) and has been presented to the Governor. He made a promise not to raise rates when he became governor. Many other politicians made similar claims about standing up to insurance companies, but they seem to have forgotten. These proposed laws not only raise rates, they take away coverage and benefits Floridians have enjoyed for a long time.
The Florida legislature taught regulators a lesson through the Florida Public Service Commission–do what we want or lose your job. While I have no personal knowledge, many suspect that Kevin McCarty is calling for the Governor to sign this poor legislation because he is feeling that political heat.
Tomorrow, I will give some examples of why this law is so bad and how it would work to the detriment of Florida policyholders. As a teaser, there is even an exemption to testing required for adjusters if the adjuster belongs to a certain religious belief-based adjusting organization.
