Tomorrow: Policyholders of Florida Protest Sinkhole Rate Hikes

Media Advisory: August 15, 2011
Contact: Kevin Cate, 813.469.7189

 

New Port Richey, Fla — The Policyholders of Florida coalition will be hosting a sign-waving rally against 400-2000% sinkhole rate hikes for customers of Citizens Property Insurance Corporation. Senator Mike Fasano (R- New Port Richey) will be in attendance and other Tampa Bay area lawmakers have been invited to participate, most of whom actually voted in favor of Senate Bill 408, the bill that paved the way for extreme rate hikes.
 
What:               
                Protest of Citizens Property Insurance Corporation Rate Hikes
 
Who:               
                Policyholders of Florida
                Policyholders of Florida Founder Sean Shaw
                Senator Mike Fasano (R- New Port Richey)
                Outraged Local Homeowners
 
When:             
                Tomorrow, August 16, 2011 | 4:00 PM- 6:00 PM
 
Where:             
                 Pasco County Government Center
                 7530 Little Road, New Port Richey, Florida


In addition to actively fighting against SB 408 and other insurance giveaways during regular legislative session, Policyholders of Florida founder, former Insurance Consumer Advocate, and Merlin Law Group Attorney Sean Shaw was among the first to sound the alarm about impending rate hikes. In a letter urging the current Insurance Consumer Advocate to stand up for homeowners, Shaw called the rate hikes "a damning proposition." 

“Citizens Property Insurance Corporation recently requested hiking its average sinkhole premium rates by more than 400%. This would be devastating to many insurance consumers, especially policyholders in the Tampa Bay region, potentially raising some rates by 2,000%. You and I both know that this is a damning proposition.”

"Our state can’t afford to push Floridians out of the insurance market. Unemployment and underemployment rates are sky high, foreclosures are everywhere, and a measure like this will only prove devastating to homeowners, potentially putting everyday working Florida families out of their homes and onto the street.”

Responding to the grassroots outrage spearheaded by the Policyholders of Florida, the Florida Office of Insurance Regulation recently scheduled a public hearing on the proposed extreme rate hikes at the Tampa Convention Center on September 13, 2011.