Florida Legislators Move Bill to Shrink Citizens Property Insurance Corp.
Among the bill’s highlights is also a provision banning Citizens from insuring new or “substantially improved” homes in areas seaward of the Coastal Construction Control Line after July 1, 2014.
Independent think tank R Street says the provision is based on a proposal it provided. Christian R. Camara, the group’s Florida director, calls the bill a “win for Florida taxpayers, consumers, businesses and charities, by moving toward restoring Citizens as a true insurer of last-resort, promoting competition in the state’s insurance market, and protection Florida environmentally-sensitive coastal areas.”
