Senate Again Delays Bill on Downsizing Citizens

March 2, 2012

A bill that would allow high-priced, out-of-state companies often called surplus lines to remove homeowners’ insurance policies from Florida’s state-backed insurer faces an uncertain future with time running out in the 2012 session.

Debate was pushed into Thursday with a promise from Senate President Mike Haridopolos that the proposal (CS/CSHB 245) would be given as much time as needed before a final vote is taken.

Sen. Mike Fasano, R-New Port Richey, argued against the measure, claiming that Floridian’s shouldn’t have their homeowners policies picked off randomly by a company that he said is virtually unregulated by state officials.

Proponents of the measure say providing surplus lines an opportunity to take business from Citizens Property Insurance Corp. is one way, if not the best, to reduce Citizens’ 1.5 million policies.

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