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Originally Posted by Love2Swim
You're kidding, right? Nothing has changed. Look at all the people that have had their insurance almost doubled. This was predicted when the law was signed. The bill props up insurance companies solely so they will keep writing policies in Florida. There were no requirements that rates would go down. The lawmakers also set aside another $1 billion in our money as a pool that insurance companies could tap to bolster the industry . The legislation also reduces the risk that insurance companies will be sued by homeowners. These are all measures that benefit the insurance industry, not the Florida residents.
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The impact of the legislation will take several years to have an impact. Reducing frivolous lawsuits benefits he homeowner, not the attorneys. Not sure who predicted that insurance would double because of the legislation so if you could share that it would be appreciated. Another factor of rate impact is the reduced number of companies since many have left leaving the market and liability to a reduced pool. Also, why do people think that because they have no claims there should be a benefit?