INVESTIGATOR VIC MICOLUCCI EXPLAINS WHY ISAIAH JOHNSON’S FAMILY SAYS HIS DEATH NEVER
HAD TO HAPPEN.
>> STATE LAWMAKERS ARE BACK IN
TALLAHASSEE THIS WEEK TRYING
TO TACKLE FLORIDA’S PROPERTY
INSURANCE INDUSTRY AFTER
HOMEOWNERS REPORT BEING HIT
WITH HUGE INSURANCE PREMIUM
HIKES SOME MORE THAN 50% UTTER
TODAY’S STATE SENATE HEARINGS
AND JOINS US NOW WITH MORE
TART.
>> WELL, THE BAD NEWS FOR
FLORIDA’S HOMEOWNERS IS THAT
IMMEDIATE RELIEF IS NOT ON THE
WAY. EVEN THOUGH STATE SENATOR
JIM BOYD OF BRADENTON ARGUED
HIS CASE FOR HIS LEGISLATION,
SENATE BILL, 2 D NOW. BOYD
SAYS HIS BILL WILL DISCOURAGE
LAWSUITS IN ROOFING FRAUD. THE
NUMBER ONE DRIVER OF OUT OF
CONTROL INSURANCE RATES IN
HOMEOWNER POLICIES BEING
DROPPED.
>> HERE WE ARE IN SPECIAL
SESSION, WHICH IS KIND OF A
9-1-1, CALL TO
>> OUR MEMBERS AND TO THE
STATE WITHOUT SIGNIFICANT
REFORMS A FLORIDA INSURANCE
CRISIS COULD END UP FORCING
PEOPLE OUT OF THEIR HOMES
BECAUSE THEY SIMPLY CAN’T
AFFORD TO PAY FOR THEIR
PROPERTY INSURANCE NEWS. 4 JAX
INSIDERS ARE SOUNDING OFF.
GARTH WRITES MY UP 50%. IT’S
DUE AGAIN IN JULY. SO I WONDER
GET JACKED AGAIN. ROBERT
WRITES, THEY DIDN’T DROP ME
BUT RAISE MY RATES. 40%. AND
OUR ROOF IS ONLY 5 YEARS OLD.
ITS ACCOUNTS LIKE THESE THAT
LED TO LAWMAKERS GATHERING
TODAY IN A SPECIAL SESSION
DEBATING SENATE BILL TO BE CO
AUTHORED BY BRADENTON. SENATOR
IS WHERE I THINK THE BURDEN IS
TODAY.
>> IS THE HOMEOWNER’S
INSURANCE COSTS GOING THROUGH
THE ROOF IN TERMS OF THEIR
HOMEOWNER’S PREMIUM BECAUSE OF
THE BAD ACTORS IN THIS MARKET
THAT HAVE CAUSED THIS PROBLEM.
I BELIEVE IF WE GET OUR ARMS
AROUND THAT COMPONENT, THE BAD
ACTORS WILL BE ELIMINATED.
>> THOSE BAD ACTORS, ACCORDING
TO BOYD, ARE THOSE FILING
LAWSUITS AGAINST FLORIDA’S
INSURANCE COMPANIES? A
WHOPPING 79% OF THE NATION’S
INSURANCE LITIGATION
ORIGINATED IN THE STATE OF
FLORIDA, ACCORDING TO SENATE
TESTIMONY TODAY. BUT THEY NEED
GOVERNOR THE SAFEST TO CALL
THE SPECIAL SESSION TO ADDRESS
THAT ISSUE AS IDEA THAT
SOMEHOW YOU HAVE LIKE ONE
SHINGLE.
>> OFF THE AND THEN SOME
LAWYER COMES IN AND THEN THEY
END UP DOING THIS. THERE’S A
BIG LAWSUIT AT THAT IS NOT
GOING TO LEAD TO LOWER RATES
FOR PEOPLE OR EVEN STABILIZING
THE MARKET. AND BUT AS
LAWMAKERS DISCUSSED TODAY,
THEIR PROPOSED FIXES ARE MORE
ABOUT THE LONG-TERM RIGHT NOW
IN TERMS OF RATE RELIEF, THERE
IS NO
>> IMMEDIATE IMPACT. I
UNDERSTAND THE CONCERN, BUT
THE REALITY IS THIS. HOPEFULLY
THESE MEASURES THAT WE PUT IN
PLACE, WE’LL THEN FACTOR INTO
THE RATE MAKING PROCESS. LLOYD
TOLD LAWMAKERS TODAY IT WILL
TAKE AT LEAST 18 MONTHS FOR
HOMEOWNERS TO SEE THEIR
PREMIUMS COME DOWN FROM THE
CURRENT HIGH RATES. IF THIS
BILL PASSES.
>> AMONG THE PROVISIONS BOYS
BILL WOULD MAKE IT HARDER FOR
INSURANCE COMPANIES TO DROP
CUSTOMERS. THEY STILL THE AGE
OF THE ROOF. IT WOULD LIMIT
ATTORNEYS FEES AND LAWSUITS
AGAINST INSURANCE COMPANIES.
AND IT WOULD PUT 2 BILLION
DOLLARS TOWARD HELPING
INSURANCE COMPANIES GET
REINSURANCE, WHICH HELPS THEM
COVER LOSSES DURING HURRICANE
SEASON.
>> LAWMAKERS ARE ALSO
PROPOSING THAT INSURERS HAD
THE ABILITY TO OFFER POLICIES
WITH THE SEPARATE ROOF. THE
DEDUCTIBLE. NOW, WHILE THIS
BILL WILL CREATE ANY IMMEDIATE
RELIEF, LAWMAKERS SAY IT WILL
LEAD HOPEFULLY TO SOME
STABILITY IN THE MARKET. WE’VE
HEARD ALL THE STORIES OF
PEOPLE, HOMEOWNER INSURANCE
PREMIUMS JUST SKYROCKETING OR
GETTING DROP. SO HOPEFULLY
THEY’LL BE SOME STABILITY. IS
THE IS THIS AIR? WHAT ARE YOU
MENTIONED THAT FLORIDA’S
INSURERS HAVE REALLY BEEN THE
TARGET OF LITIGATION, RIGHT?
YEAH, THEY REALLY HAVE. AND
JUST TALK ABOUT THE NUMBER OF
LAWSUITS TO REALLY KIND OF PUT
THIS IN PERSPECTIVE RIGHT NOW.
OKAY. IN FLORIDA, THERE ARE
MORE THAN 100,000 LITIGATED
LAWSUITS AGAINST INSURANCE
COMPANIES COMPARED TO THE REST
OF THE STATE. I MEAN, I’M
SORRY, THE REST OF THE COUNTRY
FOR ONLY 1000. SO IT JUST
SHOWS YOU THAT HERE WE HAVE A
REAL PROBLEM WITH FRIVOLOUS
LAWSUITS HERE IN THE STATE OF
FLORIDA. AND THAT’S WHAT THEY
NEED TO GET TO THE BOTTOM UP
SO THAT THERE CAN BE SOME
RELIEF FOR INSURANCE
COMPANIES. AS TALKED TO, SOME
ARE STATE LAWMAKERS LAST WEEK
GETTING READY TO GO. THEY SAY
THEY’VE BEEN TOLD BY
LEADERSHIP PLAN ON SPENDING
ALL WEEK.
>> WHICH KIND OF INDICATES
THEY DON’T NECESSARILY HAVE A
FIRM SOLUTION IN MIND YET. AND