Florida's New Insurance Consumer Advocate Weighs In on Sinkhole Rates
Florida’s new Insurance Consumer Advocate, Robin Smith Westcott, emailed a press release to the media highlighting her attendance at our Policyholders of Florida rally in Tampa, where we protested Citizens’ massive proposed sinkhole coverage rate hikes. After this rally, when Westcott heard firsthand from policyholders, she accepted our argument that 2000% rate hikes just don’t make sense and are dangerous to our state’s economy.
The consumers I spoke with that day voiced many of the same concerns I have with this proposed rate filing. They are afraid they won’t be able to afford their living expenses and will have to default on any mortgage that requires this coverage, further depressing the housing market in the most affected areas and further devaluing their homes, which for many is their largest and only personal investment.
As one of the first people to call on Westcott to stand up for policyholders threatened by these untenable rates, I applaud her willingness to engage with homeowners. I am also hopeful that her voice will be as loud and clear during the rate hearing in Tampa later this month. After all, that is her job as the Insurance Consumer Advocate.
You can read the press release by clicking the image below:
Perhaps the Insurance Consumer Advocate should have a one-on-one meeting with the Insurance Carrier Advocate and try to work things out over lunch.