A Florida lawmaker appeared before a House subcommittee this week with a plan he said will solve the state’s insurance crisis.
“We have the solution,” state Rep. Spencer Roach, R-North Fort Myers, said.
His bill, cosponsored with state Rep. Hillary Cassel, D-Dania Beach, calls for Citizens Insurance to take over wind coverage only for all Floridians, similar to a solution California did 28 years ago for earthquakes.
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The Florida Channel“They adopted a plan to create a nonprofit publicly managed, privately financed insurance entity that did two things,” Roach said. “It provided claims and only claims for all-natural disasters.”
He said the result would be a return of private insurers for all other claims besides wind and with much lower premiums.
“I believe Florida will eventually and inevitably follow this model,” Roach said.