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Insurance industry fighting Fasano's 'crusade'

With SB 408 awaiting Gov. Rick Scott's signature, supporters and opponents of the bill intended to rein in sinkhole claims and allow insurers to raise rates up to 15 percent are making their cases to the governor.

On Wednesday, Sen. Mike Fasano, R-New Port Richey, who this session successfully fought off insurance legislation he deemed anti-consumer, urged people to contact the governor's office and tell him to veto the measure.

"Quite simply, the bill on Governor Scott's desk is not designed to benefit you," Fasano wrote. "It will instead, increase your rates and increase insurance company profits."

On Thursday, the Property Casualty Insurers Association of America responded, calling Fasano's efforts to get the bill vetoed a "crusade."

"We understand what consumers are going through in Florida because we live and work here, too," said William Stander, PCI's assistant vice president, in a prepared statement. "We all need to recognize that Florida is at the mercy of the weather, and that everyone-state government, local government, insurance companies, realtors, bankers, builders and homeowners-has an important role to play in putting Florida's insurance market back on track. Floridians understand what Senator Fasano seemingly doesn't-that Florida's property insurance market is broken."

Posted by Janet Zink at 12:30:33 pm on May 13, 2011