Rick Scott says property insurance rates ‘skyrocketed’ in the Ron DeSantis era
Rick Scott again does not offer Ron DeSantis Lots of rhetorical coverage when it comes to Florida property insurance issues.
During an interview that aired on Sunday, Scott said rates had “skyrocketed” over the past four years, a period roughly equivalent to DeSantis’ era in Tallahassee.
“And now what you’ve seen is that the cost of property insurance just skyrocketed, over the last four years,” Scott said on WJXT’s “This Week in Jacksonville.”
“Some people let it down. And that’s because they can’t afford it,” Scott added. “It’s really a problem.”
Scott said it was important to “lower prices” in the property insurance market by “eliminating fraud”, before offering another shiv to the current policy, highlighting the expansion of the clientele of Citizens Property Insurance, “the insurer of last resort” which is now on a million customers as private insurers went bankrupt or bailed out the state.
“When I was governor, we worked to drastically reduce Citizens Insurance, which we did. By the time I left, it was fully funded,” Scott recounted. “The catastrophe fund was fully funded. happened, there’s been fraud. It’s going to take the legislature and the governor cracking down on that to get those rates down.”
“My understanding is now in Florida, property insurance rates are, I think, three times the national average,” Scott added. “If you have a lot of money, that’s fine.”
“People are going naked now because they can’t afford it,” Scott added. “They’ve paid off their house and they’re stripping.”
“We need to have good access to insurance,” Scott added. “And it has to be a fare you can afford.”
DeSantis, for his part, told reporters this week that it was widely known that citizens had capital problems and that a relative lack of exposure in Southwest Florida was truly fortunate.
He said Friday that his administration “had questions early on even as the storm hit about citizens’ property insurance, which I think most of you know is sadly underfunded. , and that’s something that if you had a major storm you could have problems.”
Fortunately for policyholders threatened by the precarious position of citizens, “they don’t have as many policies in this part of the state as they do in other parts of the state. So they feel like they’re going to be able to pay outstanding claims.
Scott’s comments, recorded days earlier while in St. Augustine assessing the damage caused by Hurricane Ian, are his latest expressions of concern over what he called a “failproperty insurance market in the DeSantis era.
“Citizens have grown a lot recently. We need to understand why these companies fail. There are many property insurance companies that have recently gone bankrupt. We need to understand why Citizens has this size. And how do you make sure that when you have insurance, you actually have real coverage? »
Before the storm, FedNat became the sixth Florida company to leave customers stranded due to unresolved issues solvency problems. The Florida Department of Financial Services has filed a petition to put the company into receivership.
This came after the rating agency Demotech Earlier this year, state officials teased when they announced plans to downgrade 17 companies.
It is not clear if Scott and DeSantis have talked a lot since the storm. Scott wanted a dialogue but it was apparently rebuffed, the latest indication that the two men aren’t getting along.