Business Group Wants State Out of Insurance Biz
A recent survey done by the Florida Chamber showed that one out of every four businesses had their insurance cancelled or not renewed during the last year. And for those who did renew, more than half faced either a substantial price increase, a decrease in coverage or an increase in their deductible.
Chamber spokesman David Daniel says his group wants private capital dollars to get us out of this predicament - and not by using taxpayer dollars.
DANIEL: When we look at solutions we're supporting this year - or solutions we're looing to help us get out of this crisis- I think we're looking for less government interference, I think we'll be looking for people paying the rate that their property's exposure or loss is, no more, no less. So if I live in a coastal area and you live in an inland area, you shouldn't be subsidizing my rates.
Daniel says if rates continue to rise for business property insurance, he fears many business owners will choose to leave the state.
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