The Real Deal Miami

Florida house approves insurance deregulation

April 22, 2009 06:19PM

The Florida House of Representatives yesterday approved a bill that rolls back rate regulation for home and condo insurance. The bill is meant to bring more private insurers into the state and give consumers more choices, said Rep. Bill Proctor of St. Augustine, who sponsored the bill. But House Democratic Leader Franklin Sands said insurers could take advantage of consumers through the bill by charging any rates they want. The House and Senate both have to approve the bill before it goes to Governor Charlie Crist.