Gov. Charlie Crist said Wednesday that he would veto again any legislation that he believes would raise property insurance rates, sending a signal to legislators
hoping to deregulate the property insurance market.
The Legislature last year passed a bill that would have allowed certain large companies to raise property insurance rates without regulatory approval, but Crist vetoed it. A similar – though broader – bill that would allow nearly all Florida property insurers to raise rates up to 15 percent over a few years is moving in the Legislature again.
Crist has testified against that bill in a Senate committee and speaking with reporters on Wednesday reiterated his opposition to anything that would result in a premium hike – with an added threat about any possible thoughts of an override.
“This is the last time that people need property insurance to go up,” Crist said. “If there’s any legislation that comes to my desk that would do that, I would veto it.”
The governor said he wasn’t really concerned that lawmakers might try to override such a veto. “I can’t imagine how many members of the House and Senate would want to override a veto that reduces property insurance,” he said. “They’d do so at their own peril.”
Source: News Service Florida
