A Florida fund meant to help private insurers pay out claims after a hurricane remains strong.
A 1 percent charge imposed on most homeowners’ policies to help the state-backed Citizens Property Insurance Corp. cover losses from the last of the 2005 hurricanes may come off the books two years early.
An extra charge on property-insurance and auto-insurance policies to cover claims paid for the 2004 and 2005 hurricane seasons will end Jan. 1.
The upcoming hurricane season is just weeks away, but Florida is entering the new storm season with positive news.
Governor Rick Scott continued to make his push to depopulate Citizens Insurance Friday in front of a friendly crowd at the Florida Chamber of Commerce.
Despite worries of a financial burden on Florida policyholders, the Senate Budget Committee on Saturday OK’d financial changes to Citizens Property Insurance Corp. and the Florida Hurricane Catastrophe Fund. The move is an effort to have them secured before one or more major storms hit Florida.