PCI offered a variety of suggestions for consideration by lawmakers, including:
- Enhancing the My Safe Florida Home Program to provide more effective economic incentives for consumers to retrofit homes that reduce losses from future storms.
- Implementing stricter land use policies to place reasonable limitations on development in high-risk areas.
- Promoting greater transparency in insurance transactions by making additional information on discounts, coverages and premium break-downs available to consumers.
- Strengthening the financial position of the FHCF through additional reinsurance.
- Providing insurers incentives to write more policies by allowing them to offer consumers a wider variety of limits and deductibles and reducing government control of rates.
- Allowing individual insurers to accumulate funds to pay for disaster losses on a tax free basis.
- Establishing a federal liquidity facility to provide a financial backstop to state catastrophe funds.
Topics Carriers
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