Friday, March 9, 2012

Citizens assessments reduced in last bill passed 2012 session

There's good news for Florida's property insurance market. It took all session, but at 11:30pm this evening the Florida Legislature approved a bill that reduces the regular assessments of Citizens Property Insurance Corp.

HB 1127 decreases Citizens regular assessments to 2%, down, from a maximum of 18% (current law), shifting the balance of the deficit (if any) to the emergency assessment mechanism.

Before passage, the bill was stripped of the Cat Fund reforms that had been added to the Senate companion bill earlier in this week.

For other insurance bills passed by the Legislature, go to 2012 Key Insurance Bills tab.

This summary was prepared by Perry Cone and posted at

Legal Notice and Disclaimer

No comments: