Sinkhole Insurance Sticker Shock

Sinkhole Insurance Sticker Shock

Talk about sticker shock – insurance rates in our region for sinkhole could go up between 400 and 2,000 percent. What’s going on and what can be done about it?
Recently, the Citizens Property Insurance Corporation announced it wants rates in sinkhole property insurance by an average of 400 percent statewide. Sinkhole claims in Pasco, Hernando and Hillsborough County are rising fast.
And earlier this year, the Legislature passed Senate Bill 408, which took the cap off sinkhole premiums.
The proposed rate increases now go to the state insurance commission for final approval.
On Florida Matters, we ask four experts to help figure out why this is happening: Republican state Senators Mike Fasano of New Port Richey and Mike Bennett of Bradenton, Lynn McChristian of the industry-backed Insurance Information Institute, and Sean Shaw, former state consumer insurance advocate and now with the Merlin Law Group.
What’s your experience with sinkhole claims? Let us know on WUSF’s Facebook page.

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Host:
Carson Cooper

Carson Cooper is a familiar voice. He has become a favorite of WUSF listeners as the local host of NPR's "Morning Edition" on WUSF 89.7 since he took the job in 2000. Carson has worked in Tampa Bay radio for more than two decades. He has been the host of WUSF 89.7's Florida Matters since its launch in 2006. During that time he has reported on a variety of issues of importance to the community, including growth management, education, transportation, affordable housing, taxation, public health and the environment.

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