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Governor: No Insurance Rate Increases…For Now

Governor Rick Scott has ordered top insurance regulators for Florida to freeze any efforts to increase home and property insurance rates, post Irma.

A news release from the governor’s office says the governor wants to make sure policy holders are dealt with as quickly as possible.

Governor Scott said, “As Hurricane Irma leaves our state, it is critical that Floridians have every resource available to quickly recover. By providing additional protections for consumers, we are making sure that each family has ample opportunity to get their claims filed in a timely manner.

“Throughout the preparation and response to Hurricane Irma, we have been in constant contact with the Office of Insurance Regulation (OIR) and the Department of Financial Services (DFS) to find ways to help our state recover. I know that CFO [Jimmy] Patronis and his team will quickly respond to the needs of Florida families, prevent fraud and quickly assess claims so families can get the service they deserve. We will not stop working until every family in Florida recovers from Hurricane Irma.”

The release also included direction given by the governor to Insurance Commissioner David Altmaier.

The Office of Insurance Regulation was a part of a hearing held last month about a proposal by Citizens Property Insurance Corp. During the hearing, Citizens discussed a possible insurance rate increase for many customers.

Other information from the governor’s office that may be useful related to insurance includes:

INSURANCE