TALLAHASSEE, Fla. (WFLA) — Democrats on the Florida State Home are calling on Gov. Ron DeSantis and the Home Speaker to additional examine Florida’s insurance coverage corporations.
That decision follows a report that exposed the businesses have been claiming insolvency, whereas paying bonuses to executives.
“Simply final week, on behalf of the caucus, I issued a letter to the Speaker encouraging him, effectively asking him frankly, to permit the Home to make use of subpoena energy to resolve what’s taking place with these property insurance coverage corporations,” mentioned Home Minority Chief Fentrice Driskell, D-Tampa.
Many discovered this report surprising. It claims insurance coverage suppliers misled lawmakers into believing they have been in monetary misery. Nonetheless, the investigation discovered, on the identical time, these corporations have been shelling out earnings to associates.
Now, extra Florida voices are chiming in on this so-called “secret research.”
First, House Democrats called on Governor Ron DeSantis and the House Speaker. Now every week later, Home Speaker Danny Perez, R-Miami, is looking out insurance coverage corporations for utilizing “accounting methods” to cover earnings.
“I’ve requested the insurance coverage & banking subcommittee to conduct hearings, and they’ll have entry to the complete vary of instruments – together with issuing subpoenas, placing witnesses below oath, and hiring exterior consultants,” Perez mentioned.
Perez was advising the insurance coverage and banking subcommittee to take a deeper dive.
“They are going to have the flexibility to look into that research and additional take a look at any questions that they suppose may higher the insurance coverage market,” Perez mentioned.
That research was not too long ago found by the Tampa Bay Times and factors to insurers claiming to be broke whereas shifting cash round.
Perez responded to Minority Chief Fentrice Driskell’s letter, calling for motion. Nonetheless, DeSantis hasn’t immediately responded to the decision however as an alternative responded to reporters’ questions at a press convention on the primary day of session.
“If there’s issues that have to be achieved to have the ability to be sure that we’ve transparency and applicable oversite, I’m all for, what I’m not going to help, is opening up the litigation flood gates,” DeSantis mentioned.
The governor could also be cautious to behave on this one, however Home Speaker Perez is totally on board.
“It looks as if we have bipartisan help on this, let’s examine these corporations to seek out out what occurred,” Driskell mentioned.
Chief Monetary Officer Jimmy Patronis suggests there could also be some coverage adjustments that come out of this.
“I recognize the priority that the chief of the Florida home of representatives desires to absorb this situation and transparency the most effective disinfectant, that there is nothing to cover, that we must always don’t have anything to fret about,” mentioned Patronis.
