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Industry: Email Alert RSS FeedFlorida may extend moratorium on cancellations. (property insurance) (Late Breaking News)
National Underwriter Property & Casualty-Risk & Benefits Management, May, 1993 by Sexton, Christine Jordan
A day after Florida Governor Lawton Chiles expanded the call for a special legislative session, the state Senate passed a bill extending an insurance department moratorium on property insurance cancelations through the end of the 1993 hurricane season. At press time, the Florida House was expected to follow suit.
Legislative insiders, including Herb Clark, chief of staff for Florida State Treasurer and Insurance Commissioner Tom Gallagher, expected the two bills to then go to a conference committee, with passage of a final version by Memorial Day weekend. The committee amendment to Florida Senate Bill 22-B also would require insurers writing in Florida to fall back on underwriting rules established before Hurricane Andrew to substantiate cancellations or...
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