Insurance

Governor Crist Stops Anti-Consumer Insurance Bill

Statement of Robert Hunter, CFA Director Insurance, on Governor Crist’s Veto of Consumer Choice Insurance Bill

Washington, DC – Governor Crist did the right thing in vetoing the anti-consumer, so-called “Consumer Choice” bill.  This legislation would have let insurance companies raise home insurance prices at will in Florida’s uncompetitive insurance marketplace.  This bill was an invitation to insurers to game the Florida regulatory system and abuse consumers. No insurance rates could have been found to be too high, no form of discrimination could be found to be unfair if a policy is issued under the terms allowed by the legislation.  The State Insurance Department would only have been allowed to require that rates be raised, not lowered.

The people of Florida owe Governor Crist a debt of gratitude for this very important veto.