Jeb Bush backs property insurance deregulation effort
Jeb Bush waded into the property insurance debate Monday in an interview with the Associated Press. The former governor endorsed a measure to allow property insurance companies to offer unregulated rates, subject to annual caps on average increases.
Bush told AP that the renewed effort -- after Gov. Charlie Crist vetoed a similar bill last year -- is necessary to help companies better capitalize in the event of a major hurricane and he hopes the governor signs it. Since his successor took office, Bush has been critical of Crist's property insurance mindset.
He suggested Crist should give the law a good look because lawmakers addressed most of his concerns from last year.
Crist appeared before a Senate committee last week to tell lawmakers not to pass the legislation, sponsored by Sen. Mike Bennett and Rep. Bill Proctor.*