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Groups Reiterate Need for Citizens and Cat Fund Reforms

June 25, 2012

IN CASE YOU MISSED IT:

Tallahassee – Following the release of a three-part series of commentaries by Sen. Garrett Richter, R-Naples, and Rep. Bryan Nelson, R-Apopka, the legislative leaders, who are working to educate the legislature and public on the need to reform the state-run Citizens Property Insurance Corp. and Florida Hurricane Catastrophe Fund, authored an opinion editorial in last week’s Gulf Coast Business Review entitled, “Insurance promises we can’t keep.”

“Associated Industries of Florida and our members have long supported reform of Citizens Property Insurance Corp. and the Florida Hurricane Catastrophe Fund,” said Thomas C. Feeney, III, Associated Industries of Florida President & Chief Executive Officer. “Speaking to the state-run insurance entities Florida relies upon, the opinion piece states, This means that should something go awry with one or all of them, you are on the hook as a taxpayer. If this sounds like a major gamble on the backs of Floridians, it is.’ For this reason, and the fact that ‘hurricane tax’ assessments have the very real potential to burden Florida businesses and the economy, we will continue to support leadership and hardworking legislators including Sen. Richter and Rep. Nelson who are trying to change the current situation to better protect all Floridians.”

Organizations that represent Florida taxpayers are also appreciative of the initiative Sen. Richter and Rep. Nelson are taking this summer to educate both the entire Florida Legislature and Floridians about the risks associated with the current situation.

Abigail F. MacIver, Americans for Prosperity – Florida Director of Policy & External Affairs, had the following comments,

Reform of both Citizens Property Insurance Corp. and the Florida Hurricane Catastrophe Fund is essential to the financial well-being of our state and all Floridians.  Continuing to delay working towards the goal of reinvigorating the private market, which is willing and able to assume the insurance risk, is a mistake we cannot continue to make. Florida’s legislative leaders would be wise to heed the advice of Sen. Richter and Rep. Nelson as reliance on a taxpayer bailout is not a sensible or responsible plan.

 Read Sen. Richter and Rep. Nelson’s opinion piece about the Cat Fund HERE.

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