After Florida lawmakers passed major changes in December to shore up the property insurance industry, a Senate committee next week will receive presentations about the insurance market.
According to a calendar published Monday, the Senate Banking and Insurance Committee on Oct. 10 is scheduled to receive presentations from Insurance Commissioner Michael Yaworsky and Citizens Property Insurance Corp. President and CEO Tim Cerio.
The changes passed during a December special session included trying to help shield property insurers from costly lawsuits and trying to shift policies from Citizens into the private market.
Citizens, created as the state’s insurer of last resort, have seen massive growth during the past three years as private carriers have dropped customers and raised rates.
As of Friday, Citizens had slightly more than 1.4 million policies, making it the largest insurer in the state.
Android Users, Click To Download The Free Press App And Never Miss A Story. Follow Us On Facebook and Twitter. Signup for our free newsletter.
We can’t do this without your help; visit our GiveSendGo page and donate any dollar amount; every penny helps