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Fla. Flood Insurance Bill Heads To Governor’s Desk

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Flooded parking lot in Pinecrest on Oct. 3, 2013. (Source: CBS4)

Flooded parking lot in Pinecrest on Oct. 3, 2013. (Source: CBS4)

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Legislative Session Coverage

TALLAHASSEE (CBSMiami/AP) —   A bill which is trying to push private insurance companies to sell flood policies in Florida is heading to the governor’s desk.

Florida is considered the most vulnerable to storm surge.

The Florida Senate voted Thursday 30-3 for the bill (SB 542) sponsored by Sen. Jeff Brandes, a Republican from St. Petersburg. It now heads to the desk of Gov. Rick Scott.

The legislation is designed to make it easier for private companies to sell flood insurance.

Florida is home to 37 percent of the federal policies and state officials say congressional attempts to overhaul the troubled program burdened many Floridians with skyrocketing premiums. Congress just recently rolled back some of the increases it permitted in 2012.

It’s not clear, though, that many private insurers will want to assume the risks of flooding.

TM and © Copyright 2014 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2014 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

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