In a move to lower rising costs of property insurance and insurer losses, Florida Gov. Ron DeSantis is expected to sign the property insurance bill which creates a $1 billion reinsurance fund and rewrites rules on coverage denials and attorney fees.
It comes after the Florida House passed the bill in an 84-33 vote on Wednesday, just one day after it passed the Senate in a special session.
While Republicans acknowledged it would take an estimated 12 to 18 months before insurance prices drop, many Democrats were against the bill after claiming that legislation does not do enough to grant immediate financial
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