« Sansom grand jury nearing a decision | Main | Grand jury indicts Odom, adds perjury charge for Sansom »

Amid consumer protest, Crist says he doesn't like insurance bill

Gov. Charlie Crist said this morning that he continues to have concerns about the property insurance bill (HB 1171) that allows for large, well-capitalized companies like State Farm, to go unregulated.

"To have that industry unregulated in essence is not something that is appealing to me nor is it fair to the customer,'' Crist said at a morning media availability.

Meanwhile, the Consumer Federation of the Southeast and the Florida Public Interest Research Group called on the governor Wednesday to veto the bill.

"This should be a no brainer veto,'' said Walter Dartland, director of the Consumer Federation. "It will allow the major property insurers to raise rates any way they want.''

He warned that when a similar deregulation was allowed for property insurance of condominiums, "State farm dramatically increased rates over several years and then decided not to renew the policies. There's no reason for me to think that anything different can happen here.''

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Melville

I'm sorry, but I have concerns with reputable insurers leaving the state. I lost my insurance last year and I'd have rather paid a bit more and they stayed with me.

I dont know who these dummies are that aren't intelligent enough to make their own choices, but I'm not one of them. He needs to sign this bill and leave running our lives up to us - not him or Walter Darling - whoever that is.

Insurance Agent Forum

Some people would only think of their own benefit. State farm should not drastically increase annually.

The comments to this entry are closed.