House Bill 408 is still sitting somewhere on a corner of Rick Scott’s desk waiting to be approved or vetoed. The heated debate between Senator Richter and Senator Fasano still seems to be raging on even though the arguments in the house and senate have gone quiet. Senator Fasano has sent a message out to Florida residents to make sure Rick Scott hears loud and clear how damaging Bill 408 will be. So far over 400 emails, calls and letters have come into Scott’s office bashing the proposed bill and what it will do to Floridians. Senator Richter is not taking kindly to the call to action and has childishly bashed Fasano personally instead of addressing the real concerns and issues.
We should take this opportunity to address issues contained in this 129 page bill other than just changes to the sinkhole laws. The biggest point of contention over Bill 408 has been the 15% increase in insurance premiums. The bill allows carriers to claim a 15% “re-insurance” premium that can be tacked on top of normal increases to cover projected losses. Senator Fasano has been particularly vocal on this issue and has even pointed out that profits for US property and casualty carriers rose 63% to $27 billion dollars in 2010. Here in Florida, we have not had a hurricane in six years which is typically the one disaster carries are most afraid of. As a result, Senator Fasano points that carriers want to increase rates, decrease coverage and all of this is on the heels of a record-breaking profit in 2010. To read the statement from Senator Fasano check out the link below where his statement was published in the Miami Herald. We agree with Fasano’s final statement: “Please call Gov. Scott today at (850) 488-7146 and encourage him to veto this bill.”