Citizens assessment bill signed into law

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Citizens’ Property Insurance Corp. will change the way it recoups losses following a major storm under bill signed into law Friday by Gov. Rick Scott. The bill, HB 1127, removes the regular assessment on personal lines accounts and commercial lines accounts and reduces the assessment on coastal accounts from 6 percent to 2 percent. The bill also allows for assessments to be spread out over more time and paid by more policy holders, easing the burden on those paying the assessments. The bill was supported by the insurance industry and the Office of Insurance Regulation.

Peter Schorsch is the President of Extensive Enterprises and is the publisher of some of Florida’s most influential new media websites, including SaintPetersBlog.com, FloridaPolitics.com, ContextFlorida.com, and Sunburn, the morning read of what’s hot in Florida politics. SaintPetersBlog has for three years running been ranked by the Washington Post as the best state-based blog in Florida. In addition to his publishing efforts, Peter is a political consultant to several of the state’s largest governmental affairs and public relations firms. Peter lives in St. Petersburg with his wife, Michelle, and their daughter, Ella.