Florida lawmakers on Monday began considering ways to shore up the state’s struggling home insurance market in the year’s second special session devoted to the topic, the Associated Press reported. Lawmakers are considering legislation to help keep private insurers solvent by creating a $1 billion reinsurance fund, reducing litigation costs and compelling some customers to leave the state-created insurer of last resort and rejoin the private market. It also would force insurers to respond to claims more promptly and boost state oversight of insurers’ conduct following hurricanes. The Senate and House GOP bills are identical, meaning the measure should sail through the Republican-dominated Legislature. “We will continue to focus our efforts on fair costs and strong protections for consumers while adding reasonable guardrails for insurance companies against frivolous litigation and fraudulent claims that drive up rates for everyone,” Republican Senate President Kathleen Passidomo told lawmakers as she opened the session. The 123-page bill on home insurance was filed late Friday. During the special session, which is expected to last three to five days, lawmakers also will consider property tax relief for Hurricane Ian victims and highway toll reductions for frequent commuters.
