State Rep. Alan Hays on Wednesday called for the Legislature to investigate property insurance companies in Florida, citing the millions executives made in bonuses and other perks as the companies threatened to leave Florida and begged the state for higher rates to make them profitable.
"We certainly need to have answers as to whether the practices were appropriate," said Hays, R-Umatilla, a member of the House Insurance, Business & Financial Affairs Policy Committee.
Citing a year-long investigation conducted by the Sarasota Herald-Tribune -- "How insurers make millions on the side" -- Hays said he wants to hold hearings to sort out the truth much like they do in Congress. The committee's chairman Republican Pat Patterson, a senior account agent at Allstate, dodged discussion of the issue. (The lawmakers, including Hays, then approved a measure to give insurance companies the ability to offer unregulated rates.)