Contents of Mr. Russo’s proposal
The centerpiece is the proposed Florida Catastrophic Hurricane and Wind Preparedness Program, which is designed to function a stand-alone hurricane and wind preparedness coverage somewhat than a fallback for householders uncovered to a number of hazards. Owners will doubtless nonetheless want separate protection for fireplace, theft, and different non-disaster dangers. The marketing campaign stated the mannequin might cut back insurance coverage premiums by as much as 50% for a lot of householders, and acknowledged that the determine was topic to actuarial overview. Russo’s platform additionally features a Florida Owners Invoice of Rights, larger transparency via public actuarial audits, monetary reporting and a statewide reform dashboard, mitigation grants and housing hardening incentives, and a constitutional modification to reinstate the elected Insurance coverage Commissioner that has been appointed by the governor since 2002. Russo stated property and casualty insurance coverage reform could be a precedence in his first 100 days if elected.
