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{"id":68784,"date":"2021-06-10T18:00:56","date_gmt":"2021-06-10T22:00:56","guid":{"rendered":"https:\/\/www.flanews.com\/?p=68784"},"modified":"2021-06-10T16:31:31","modified_gmt":"2021-06-10T20:31:31","slug":"governor-to-sign-insurance-reform-rates-still-expected-to-rise","status":"publish","type":"post","link":"https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/","title":{"rendered":"Governor to Sign Insurance Reform, Rates Still Expected to Rise"},"content":{"rendered":"

The Governor has said he will put pen to paper on a new law that aims to address skyrocketing homeowners insurance rates by reducing litigation, but part of the deal also allows Florida\u2019s insurer of last resort to raise rates year over year at a higher pace than in the past.<\/p>\n

Citizens Insurance offers coverage to Floridians who can\u2019t find or afford private coverage.<\/p>\n

<\/iframe><\/p>\n<p>Roughly 5,000 Floridians are flocking to Citizens each week.<\/p>\n<p>\u201cThat type of growth is unsustainable,\u201d said Michael Peltier, a spokesperson for Citizens.<\/p>\n<p>That\u2019s why lawmakers decided to allow the company to go beyond its current 10 percent annual rate increase cap in this year\u2019s insurance reform bill.<\/p>\n<p>The cap on Citizens’ annual rate increases will grow by one percent each year, until reaching a max of 15 percent in 2026.<\/p>\n<p>\u201cIt’s going to allow us to close that gap in some cases with private carriers so that more customers can find their insurance in the private market,\u201d said Peltier.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-1 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-1 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-1 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-1' class='gallery galleryid-68784 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000001\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000001-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000001-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000001-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000001.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000002\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000002-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000002-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000002-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000002.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>The legislation also includes numerous changes to the claims process, in an effort to reduce litigation costs, which insurance companies blame from driving exorbitant rate increases.<\/p>\n<p>When approved by the Governor, claimants will have to pay their own attorneys fees if they settle a claim for less than 20 percent above the insurer’s initial offer.<\/p>\n<p>If the settlement is between 20 and 50 percent higher the insurer will have to cover a portion of the claimant\u2019s attorneys fees.<\/p>\n<p>If it\u2019s above 50 percent, the insurer will have to pay all attorneys fees.<\/p>\n<p>The bill also prohibits solicitation by contractors, who have often offered gifts to homeowners in exchange for the ability to inspect roofs and make claims with insurance companies.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-2 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-2 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-2 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-2 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-2' class='gallery galleryid-68784 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000007\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000007-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000007-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000007-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000007.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000004\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000004-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000004-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000004-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000004.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000008\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000008-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000008-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000008-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000008.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>But even with all of the litigation reform in the bill, rates are still expected to rise in the near future for both Citizens and private policy holders.<\/p>\n<p>Democratic State Senator Gary Farmer argues because efforts to guarantee rate reductions in the bill were rejected, the reforms only stand to benefit insurance companies.<\/p>\n<p>\u201cAll it’s going to do is enable insurance companies to be more bold and aggressive in denying and underpaying claims,\u201d said Farmer.<\/p>\n\n\t\t<style type=\"text\/css\">\n\t\t\t#gallery-3 {\n\t\t\t\tmargin: auto;\n\t\t\t}\n\t\t\t#gallery-3 .gallery-item {\n\t\t\t\tfloat: left;\n\t\t\t\tmargin-top: 10px;\n\t\t\t\ttext-align: center;\n\t\t\t\twidth: 33%;\n\t\t\t}\n\t\t\t#gallery-3 img {\n\t\t\t\tborder: 2px solid #cfcfcf;\n\t\t\t}\n\t\t\t#gallery-3 .gallery-caption {\n\t\t\t\tmargin-left: 0;\n\t\t\t}\n\t\t\t\/* see gallery_shortcode() in wp-includes\/media.php *\/\n\t\t<\/style>\n\t\t<div id='gallery-3' class='gallery galleryid-68784 gallery-columns-3 gallery-size-thumbnail'><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000003\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000003-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000003-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000003-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000003.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000005\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000005-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000005-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000005-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000005.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><dl class='gallery-item'>\n\t\t\t<dt class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/www.flanews.com\/2021\/06\/10\/governor-to-sign-insurance-reform-rates-still-expected-to-rise\/insurance-signed00000006\/'><img loading=\"lazy\" decoding=\"async\" width=\"200\" height=\"113\" src=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000006-200x113.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" srcset=\"https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000006-200x113.jpg 200w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000006-768x432.jpg 768w, https:\/\/www.flanews.com\/wp-content\/uploads\/2021\/06\/insurance-signed00000006.jpg 1280w\" sizes=\"(max-width: 200px) 100vw, 200px\" \/><\/a>\n\t\t\t<\/dt><\/dl><br style=\"clear: both\" \/>\n\t\t<\/div>\n\n<p>But State Senator Jeff Brandes, who co-sponsored the legislation, believes in the long run, the reforms in the bill will prevent what otherwise result in a catastrophe.<\/p>\n<p>\u201cIn absence of this bill passing you could see rates double within the next two to three years. Rate increases of 30 or 40 percent are going to become common over the next two years if we do nothing,\u201d said Brandes.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Governor has said he will put pen to paper on a new law that aims to address skyrocketing homeowners insurance rates by reducing litigation, but part of the deal also allows Florida\u2019s insurer of last resort to raise rates year over year at a higher pace than in the past. Citizens Insurance offers coverage […]<\/p>\n","protected":false},"author":132,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/68784"}],"collection":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/users\/132"}],"replies":[{"embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/comments?post=68784"}],"version-history":[{"count":1,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/68784\/revisions"}],"predecessor-version":[{"id":68794,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/posts\/68784\/revisions\/68794"}],"wp:attachment":[{"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/media?parent=68784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/categories?post=68784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.flanews.com\/wp-json\/wp\/v2\/tags?post=68784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}