The Senate passed an Insurance Bill today that is hoped to boost statewide home and condominium insurance rates, reducing the risks for homeowners the next time a hurricane hits.
Before Gov. Crist can sign the bill into law, the Florida House and Senate have to workout a compromise between their differences around specifics like how much to increase state backed Citizen Property Insurance rates.
The Senate reduced their cap on rates which pleased Gov. Crist who would prefer to see a freeze on caps continue. The house proposed a 20% a year cap while the Senate proposed a 5% annual cap.
Go to the Sun-Sentinel for the complete story.