The Real Deal Miami

Insurance hike moves forward

April 07, 2009 10:58AM

A state Senate bill that will allow annual increases in rates charged by Citizens Property Insurance moved forward toward a final vote. A competing version is moving forward in the state House of Representatives. Both would shrink the size of the state’s hurricane catastrophe fund. The legislation would most closely affect policy holders with Citizen, the state-run insurer, which hasn’t been allowed to raise rates since 2006.