TALLAHASSEE, FL-The director of The Heartland Institute’s Florida Insurance Project today offered cautious praise for the insurance reform bill proffered by Sen. Mike Bennett (R-Bradenton) and Rep. Bill Proctor (R-St. Augustine). The proposed bill, a stronger and more sweeping version of the “Consumer Choice” bill that Gov. Charlie Crist (R) vetoed earlier this year, would give consumers the option of paying higher rates to stay with an insurer they want. Unlike last year’s proposal, which applied only to larger insurers, the new proposal covers almost all insurance companies.
“Floridians deserve to have as many options and choices as possible when purchasing something as important as insurance for their homes,” said Christian Cámara, director of the Florida Insurance Project of the Heartland Institute’s Center on Risk, Regulation, and Markets. “Although this bill will not address Florida’s insurance crisis on its own and more market-freeing reforms will be necessary down the road, it will attract much-needed capital back into the state, increase consumer choice and competition, and limit the likelihood or severity of post-hurricane taxes. Overall, the principles here are a definite step in the right direction.”
Cámara can be reached at (305)608-4300 and [email protected].