In this episode: Nearly 20 years ago, Florida leaders erased an anti-competitive law that had been preventing a public nonprofit insurance company from challenging private, for-profit insurers. Gov. Ron DeSantis and the state’s Republican-controlled Legislature decided to reinstate that law. As a result, Florida homeowners are now paying higher prices for their home insurance.
Sources:
House Bill 1A (2007)
Senate Bill 2A (2022)
Citizens chooses higher rate hikes for South Florida than its own numbers indicate (South Florida Sun-Sentinel)
Florida Republicans protected insurance companies from competition. Florida homeowners are now paying higher prices. (Seeking Rents)
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One weird trick Florida is using to raise insurance rates