Rep. Mike Fasano is threatening legislative action if the director of the Florida Hurricane Catastrophe Fund doesn't back down from a ruling that Fasano says could cost condomium owners throughout the state thousands of dollars in rate hikes.
Fasano is challenging an interpretation of a law by Jack Nicholson, executive director of the CAT fund, and on Monday asked Nicholson to bring the issue before the governor and Cabinet or he will ask legislative leaders to let him call a special meeting of the Joint Administrative Procedures Committee, which Fasano chairs.
Nicholson has said that he believes the CAT fund must disqualify from its coverage any condominium buildings in which units are being rented for more than six months of the year. The state-run reinsurer offers lower cost coverage for residential property than is often available on the free market but, Nicholson believes, state law doesn't consider rental units that are rented for more than six months of the year as residential coverage.
Fasano, R-New Port Richey, disagreed. In a back and forth last week, Fasano challenged Nicholson and Nicholson responded on Friday. Unsatisfied with the answer, Fasano sent another letter Monday threatening more extreme action. Download Fasano June 10