TALLAHASSEE, Fla. — As property insurance skyrocketed for Floridians and Hurricanes Ian and Nicole worsened the blow, Florida lawmakers are gearing up for a special session in December to hopefully provide relief for homeowners.
A memorandum issued in November announced a special session could convene during the week of Dec.12 through Dec. 16.
Lawmakers will have much to sort through as the already chaotic Florida property insurance market surged leaving many homeowners scrambling for protection after more than a dozen companies stopped writing new policies in the state.
Hurricane Ian did not help.
“We estimate Hurricane Ian will be the second largest US catastrophe on record,” Mark Friedlander of the Insurance Information Institute said in an October interview. “We’re projecting an insured loss in excess of $60 billion.”
Sen. Jeff Brandes (R-FL) has previously said he’d like to see the governor assemble a task force to come up with concrete ideas to help stabilize the market.
“The task force needs to be put together in the next two to three weeks,” he said. “I think they need to be given a deadline of about a month to get everything done, and then I would expect that they would call a special session and be done before January.”