Floridians won a great victory on Tuesday. Against the wishes of powerful legislators in Tallahassee and the exceptionally influential insurance lobby, Florida Insurance Commissioner Kevin McCarty struck down most of Citizens Property Insurance Corporation’s proposed 447% sinkhole insurance rate hikes.
This victory proves that Floridians, organized and united, can fight the insurance lobby and win.
Citizens board members proposed in July to raise sinkhole rates statewide by 430 percent on average to make them actuarially sound. I