It appears that several Lawmaker’s have had some claims experience themselves and have become human for a short while. They now understand what would happen if Sinkhole Coverage is dropped or if replacement cost is not allowed or if  MGA’s are allowed to keep taking money from reserves for the owners and investors leaving the claims paying ability of the carrier at risk. Democrat  Evan Jenne of Dania Beach says it well when he says ” It treats the Citizens of Florida  we protect like bucket’s of chum for big Insurance to chew on”. The Senators will now have to debate this and approve the House version  in Tall and later this week and  it will need to be passd by the Senate and then Governor Rick Scott will sign it. This is supposed to lower rates, but I have not seen it and everything I see and hear tells me that rates are still going to rise this year and next and then maybe we will have some reprive by 2013. This will all become law as we enter Huricane season and have higher prices coming and Insurer’s still non renewing people so Citizens Insurance is still a big player in the market place and this is why Citizens Insurance rates will have to go up as well. Please read the full  article by Julie Patel of the Sun Sentinal and please call L & S for all your Home Inurance need and quotes on this Blog page.

http://weblogs.sun-sentinel.com/business/realestate/housekeys/blog/2011/05/florida_lawmakers_strike_deal.html