What does this mean to us now?? Rate increases by Insurance companies can now be the  rate and file system which means they can take the Increae Immedietly and apply for it. If approved, they will have already been collecting additional premiums for months and would not have been allowed this benefit before. We had this at Hurricane Wilma and look what happened at that time. The Governor seems to want to stick to his campaign promise while he now runs for the Florida Senate seat as an Independent. This also means the the Insurance companies do not have to meet the higher financial requirements putting the consumer at risk for Home Insurance issues. Getting stronger carriers  with A  rated AM best carriers will make the most sense when affordable. This Veto may also cause big discounts for Wind Mitigation to go away as the Governor does not feel the sytem works because of all the fraud found. This may be true, but the rate increases by mere reduction of credits could be overwhelming  to the Florida Insurance market and the Real Estate market as well. Please read the full story as day 2  of Hurricane season get’s under way:

http://www.insurancejournal.com/news/southeast/2010/06/01/110358.htm

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