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CEI Analyst Hails Florida Insurance Bill Passage

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CEI Analyst Hails Florida Insurance Bill Passage

'A First Step in the Right Direction'

Washington,
D.C., May 1, 2009—In response to
House and Senate passage of a sweeping insurance reform bill, Christian Cámara, director
of the Competitive Enterprise Institute's Florida Insurance Project made the
following statement: 

“The passage of this bill is an important
first step in immunizing the state of Florida
against bankruptcy due to Citizens and CAT Fund insolvency after a hurricane.
The original House version of the bill (HB 1495) – opposed by Gov. Charlie
Crist and the Senate – proactively and responsibly went further in shoring-up
Citizens’ finances, reducing the likelihood of ‘hurricane taxes,’ and
safeguarding Floridians’ lives and property by funding the state’s successful
My Safe Florida Home mitigation program. Regardless, the legislature's final,
albeit weaker product is an overall first step in the right direction to
reverse years of irresponsible political intervention in Florida's property insurance market. Gov.
Crist would do well in quickly signing this bill into law.”

For further background on insurance reform in Florida, please see:

CEI
Responds to McCarty’s Statements on SB 2036
(4/28/09)

CEI
Responds to Commissioner McCarty’s “Overview” of the Florida Insurance Market

(4/24/09)

Florida
Lawmakers Urged Not to Weaken Property Insurance Overhaul
(4/22/09)

CEI is a non-profit, non-partisan
public policy group dedicated to the principles of free enterprise and limited
government.  For more information about
CEI, please visit our website at www.cei.org.