Monday, August 20, 2007

Florida turbulence

At least some Florida legislators are seeing the light. Florida Underwriter writes:
The resulting 91-page bill swept through the insurance code with all the fury of a major storm that left insurance representatives stunned and some legislator’s in disbelief. Representative Dennis Ross (R-Lakeland) said the bill was “as close to a socialist policy that we ever came to.” He was joined by Representative Don Brown (R-De Funiak Springs) who decried the changes to Citizens Property Insurance Corporation, which makes it certain the former residual market will be the state’s largest insurer. Speaking of the freeze of Citizens’ rates until January 1, 2009, Brown noted that the bill ensured that homeowners would be eventually face potentially crippling assessments. “A one-year rate freeze is playing Russian roulette and every year you continue the freeze you’re adding another bullet to the chamber,” he said.

Leave it to Governor Crist, however, to never confuse reality for political expediency:
But no matter how dire the message, Crist and the legislature were more than happy to press forward and place their imprint on the property market. “The Florida House and the Senate have been working very hard to bring relief to our homeowners, and I am grateful for their dedication,” said Crist . “The people have pleaded for relief, and the good men and women of the Florida Legislature have answered the call. This is the right thing to do.”

The right thing to do? For whom?!