Managing the Florida property insurance market would become much easier if the state simply diverted more of its sales and receipts tax revenue to a property reinsurance fund.
Florida’s unique location and geography have the benefit of supporting agricultural and tourism at the cost of hurricane exposure. Let more of the revenue from the benefits be used to defray the costs.
Senator Brandes is a breath of fresh air and is pro-insurance.
Managing the Florida property insurance market would become much easier if the state simply diverted more of its sales and receipts tax revenue to a property reinsurance fund.
Florida’s unique location and geography have the benefit of supporting agricultural and tourism at the cost of hurricane exposure. Let more of the revenue from the benefits be used to defray the costs.
Another funding method would be to allow companies to contribute to the reinsurance fund and take an offset against premium taxes.