State Politics

April 5, 2011 11:34 AM

Property insurance reform bill passes final Senate committee with name change for Citizens

A sweeping property insurance reform bill passed its final Senate committee on Tuesday. Among other things, the bill would free insurance companies from paying replacement costs of losses up front and from a requirement to offer comprehensive sinkhole insurance. With some critics arguing that means that no private insurers would offer sinkhole coverage, the bill requires the state-run Citizens Property Insurance to offer sinkhole coverage.

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