After blogging yesterday that Senate Bill 1770 had stalled, Senator David Simmons amended the bill enough to have the bill passed by the Senate yesterday. The amended bill keeps existing Citizens customers under the 10 percent cap on premium increases. Any new Citizens customer would have to have their rates in line with available private insurance rates. Additionally, property owners would have to go through a clearinghouse to get Citizens insurance. The accompanying House Bill does not match up exactly with the Senate bill, and may face a tougher road to passage than the Senate bill.
By Robert Sparks Attorneys