Crist hints at veto of insurance deregulation bill
Gov. Charlie Crist said this morning that he continues to have concerns about the property insurance bill (HB 1171) that allows for large, well-capitalized companies like State Farm, to go unregulated.
"To have that industry unregulated in essence is not something that is appealing to me nor is it fair to the customer,'' Crist said at a morning media availability.
Meanwhile, the Consumer Federation of the Southeast and the Florida Public Interest Research Group called on the governor Wednesday to veto the bill.
"This should be a no brainer veto,'' said Walter Dartland, director of the Consumer Federation. "It will allow the major property insurers to raise rates any way they want.''
He warned that when a similar deregulation was allowed for property insurance of condominiums, "State farm dramatically increased rates over several yeares and then decided not ot renew the polices. There's no reason for me to think that anything different can happen here.''