“It’s not a question about ‘helping’ the insurance companies,” DeSantis said. “What it’s about is creating a market where people are going to want to do business in Florida.”
Also signed Friday was legislation providing property-tax refunds for homes across 16 Florida counties that sustained major damage from Hurricane Ian and later, Hurricane Nicole.
Even residents of high-rise condominiums covered by Citizens will face the flood requirement. And everyone in Citizens, flood-zone or not, will be forced to have flood insurance, within five years. Lawmakers also set aside another $1 billion in taxpayer money as a reinsurance pool insurers could tap to bolster the industry. During a special session in Maylawmakers already set aside $2 billion from the state treasury for reinsurance help.
In another change, the measure bans assignment of benefits, or AOB, where policyholders sign over claims to contractors who then deal directly with insurers.
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