Citizens Insurance bill passes Senate subcommittee

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A proposal to shift more of the financial burden of a catastrophic hurricane on the backs of Citizens Property Insurance Corp. customers passed the Senate Budget Subcommittee on General Government Appropriations on Thursday, reports the News Service of Florida. The measure, SB 1346, passed on a 6-0 vote and now heads to the full Budget Committee. The proposal reduces or eliminates regular assessments that kick on Citizens customers in the event the state-backed insurer exhausts its surplus when paying claims. The bill shifts the burden of repaying additional claims to a wider pool of insurance policyholders over a longer period of time. The House companion, HB 1127, passed its first committee hurdle earlier this week.

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.