New legislation to cut rates will damage competition, NAMIC

The insurer body objects to measures that force auto insurers in Florida to also offer homeowners’ policies under new law

Legislation designed to bring rate relief to Florida homeowners may ultimately have the opposite effect, according to the National Association of Mutual Insurance Companies (NAMIC). The 167-page package was passed January 22 after a special session of the state’s legislature and was expected to be signed by Governor Charlie Crist.