What's on Tap for Property Insurance in Florida's Upcoming Legislative Session
Senior Policy Advisor Beth Vecchioli was quoted in The Real Deal about the challenges and potential legislative responses to Florida's escalating property insurance crisis. The article highlights the impact of skyrocketing premiums on condominium associations, particularly in the wake of the Surfside condo collapse and the special assessments some have had to levy to afford coverage. Ms. Vecchioli noted that special assessments passed by some condo association boards to pay high insurance premiums exemplify the severity of problems caused by rising costs in the property insurance market, putting pressure on Florida's governor to take action through new legislation to provide relief.
"We're starting to hear some pretty severe horror stories about special assessments," she said. Some relief is expected, she added, as the governor has "taken a lot of heat for the property insurance crisis."
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