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Insurers blame questionable, if not fraudulent, roof-damage claims for driving up costs.
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The home insurance market is broken with companies collapsing or leaving — raising costs and risks for homeowners.
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Legislation proposed by Florida lawmakers for an upcoming special session to reform the state’s property insurance market would create a $2 billion reinsurance fund and prohibit insurers from automatically denying coverage to homeowners’ with older roofs.
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Property insurance rates are skyrocketing and Florida lawmakers promise action.
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Homeowners are paying more for less coverage as insurance companies ditch customers. Others have gone out of business.
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Gov. Ron DeSantis expressed confidence that a special legislative session will help stabilize Florida’s property insurance system, but the troubled market is taking another blow as a group of companies is poised to cancel more than 68,000 policies.
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Legislators are heading back to Tallahassee soon to talk about rising property insurance policy rates. Plus, the Camillus House has a new program to help families learn how to cook healthy meals that are not expensive. And we speak to the director behind a new documentary about the late South Florida rapper XXXTentacion.
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The hearings will come less than a week before the May 23 start of a special legislative session that Gov. Ron DeSantis called to grapple with widespread problems in the insurance market.
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The financial-rating agency AM Best says further “action is essential” to stabilize Florida’s property-insurance market, as lawmakers prepare to grapple with the issue during a special session later this month.
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Florida lawmakers will return to the Capitol the week of May 23 to address problems in the property insurance system that have led to homeowners losing coverage and facing soaring premiums.
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Even before legislative proposals to reform condo safety post-Surfside died on the doorstep of the Florida House last month, a reaction was brewing in the marketplace.
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Gov. Ron DeSantis said Monday he will call a May special legislative session to address problems in the property-insurance system that have led to homeowners losing coverage and getting hit with large rate increases.