Joint Legislative Budget Commission approved the $1.5 million proposal to hire a consultant that will study additional options for insurers to get ratings
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"Lawmakers may dump Demotech, the company that has provided Florida financial ratings for property insurance companies since 1996
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Low ratings from Demotech have accelerated the decline of struggling property insurers by making it more expensive for the companies to acquire affordable reinsurance
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Demotech has aggressively fired back at state officials, saying they have consistently rated Florida property insurers for 26 years
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State lawmakers may consider creating a new state bureaucracy to rate property insurers who operate in Florida, which has unique insurance needs"
Read more about it... as something has to be done about these escalating insurance rates. My insurance agent says to expect a 20 to 30% increase.
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