Florida Gov. Crist signs bill to freeze Citizens' rates through 2009
Florida Gov. Charlie Crist has signed a comprehensive insurance reform bill that will freeze rates for Citizens Property Insurance Corp. through 2009 but a plan to use $250 million of the state-run insurers' surplus to fund a capital incentive program for start-ups was scrapped before the bill was inked.
The bill, S.B. 2960, doubles penalties that can be levied on insurers for noncompliance with regulation — $5,000 for an unwillful violation and up to $40,000 for a willful violation — but an earlier
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