Preview of Citizens sinkhole insurance rate hike hearing at Tampa Convention Center

Share

Many homeowners in the Tampa Bay region could face steep rate hikes on sinkhole insurance premiums. This afternoon there is a hearing at the Tampa Convention Center on proposed rate increases by state’s government-backed insurance program. State legislators held a press conference to voice opposition to the hikes this morning.

Citizen’s Property insurance has reacted to a higher number of sinkhole claims by proposing to raise premiums on their sinkhole insurance customers by 400 to 2000% in Hillsborough, Hernando, and Pasco Counties. But yesterday Citizen’s Property Insurance said they would cap their first phased increase by 50%. Democratic State Representative Daryl Rouson said they are reacting to protests from both politicians and homeowners.

John Thompson is a homeowner in Hernando County, where the premiums could face some of the steepest hikes. He spoke out against Senate Bill 408 earlier this year. While it did away with what many consider to be useless regulations, it also took a cap of annual rate increases; which Thompson foresaw would become a problem.

State Senator Mike Fasano blames the private insurance industry’s push for the bill to pass in the state Senate.

Fasano called Citizens’ dishonest, saying that they do not actually intend to slowly phase in rate hikes, and said they have misled the public.

Christine Ashburn with Citizen’s Property Insurance did not respond to an interview request by deadline. The hearing on proposed rate increases with the Office of Insurance Regulation would normally take place in the state capitol, but public outrage on the issue has led to a change to a venue closer to where homeowners are most impacted by the proposal.

Previous WMNF coverage of sinkhole issues.

Leave a Reply

  • (will not be published)

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

You may also like

student meal
Next school year Hillsborough public schools are offering free meals

Hillsborough Public Schools are offering students free meals for the...

Correspondence Through Poetry. A Mind-Numbing Week.

Father Verses Sons: A Correspondence in Poems by Herbert Gold...

The sound of change: Music’s influence on anti-war and human rights movements

Throughout history, music has served as a powerful catalyst for...

a man in a tye dye shirt talking on a radio microphone
Recreational pot for Florida is on the ballot this fall—let’s talk about it

In four months, Florida voters have the opportunity to vote...

Ways to listen

WMNF is listener-supported. That means we don't advertise like a commercial station, and we're not part of a university.

Ways to support

WMNF volunteers have fun providing a variety of needed services to keep your community radio station alive and kickin'.

Follow us on Instagram

Ultrasounds Radio Show with Eluv
Player position: