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Florida Governor Bush Issues Non-Cancellation Rule, Special Session Slated

Florida Governor Jeb Bush and the state's Cabinet have approved a rule preventing insurance companies from canceling or not renewing homeowner insurance policies for hurricane...
November 30, 2004

Florida Governor Jeb Bush and the state's Cabinet have approved a rule preventing insurance companies from canceling or not renewing homeowner insurance policies for hurricane victims through the end of 2004. The rule, which applies to residential and commercial properties, and was proposed by Chief Financial Officer Tom Gallagher, prohibits insurers from canceling policies of people whose property was damaged until 60 days after repairs are complete.  If a policy expires while the rule is in effect, and the property has not been repaired for 60 days, insurers would have to renew the policy as well.  Even though the rule expires at the end of the year, Gallagher says he will ask lawmakers next month to extend into next year the authority of regulators to prevent insurers from halting coverage until storm repairs are complete.

Bush has set the beginning date of the special session for December 13. Issues on the table for discussion include allowing consumers access to policies with a variety of hurricane percentage deductibles, assisting consumers who paid multiple hurricane deductibles and reducing the insurance industry deductible in the Florida Hurricane Catastrophe Fund (FHCF).

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