Siding with domestic insurers, consumer groups and the state insurance regulator, Florida Gov. Charlie Crist today vetoed a bill designed to create competition among insurers in Florida. An aide in the Governor’s office stated that they had only received 862 calls this week regarding HB1171. Out of those 862 only 52 were against the bill.
Crist said the bill (HB1171) to remove state review of rates charged by large insurers would have created “significant and unpredictable” rate increases. He said the bill would give large insurance companies leeway to cherry pick and redline without protecting consumers. He also said it would harm consumers and investors of some 40 small domestic insurers that have sprouted up the past few years. The rates of these insurers would not have been deregulated.
Crist, who is running for the Senate, sided with Insurance Commissioner Kevin McCarty, who now regulates rates and who opposed the measure as unfair to smaller Florida insurers whose rates would remain regulated. Crist commended McCarty in his veto message.
But he disappointed national insurance company trade groups, the state Chamber of Commerce and fellow Republicans including state Rep. Bill Proctor and Sen. Michael Bennett, who supported the measure partly as a way for the state to retain large carriers including State Farm, which has announced plans to withdraw.
State Farm this week said it might be willing to reconsider its decision to leave the state if Crist approved the bill.
While proponents of HB1171 said it would help build a more competitive insurance marketplace, Crist said it would actually disrupt that effort.
The bill “allows certain insurers the ability to collect unregulated insurance premiums and then leave the marketplace with Florida’s hardworking families’ earnings,” Crist said in his statement.
Leviticus Reed who is running for Florida State House District 66 which includes part of Winter Haven where State Farm has a Headquarters stated “It’s unfortunate the Governor did not listen to the will of the people or his constituents. As a republican it is always good for business for to have competition. It’s unfortunate for the citizens of Florida and Polk County that the People’s Governor decided to Veto this important piece of legislation.”
June 24th, 2009 at 9:00 pm
Crist is not so much anti competition, as he’s pro special interests.
Check Crist’s next financial statement and you will find several donations from opponents of this bill.
Legalized Corruption!
Crist, and his ilk, will ride special interests all the way to GOP obscurity.
June 25th, 2009 at 10:24 am
It says Crist sided with domestic insurers, lobbies and the commissioner. Who are the domestic insurers? Citizens Insurance and the numerous little companies started by the State with miniscule capital? Crist, the consummate politician, does what is in his own political intersts and no one else’s. The lobbies give him big bucks so he can run for the Senate and get out of FL before the next Big One hits and bankrupts the State. The free market works and the big strong insurance companies like State Farm are there to make good when the hurricaes strike –Citizens and the other State-created companies will not be able to and then the taxpayers are on the hook. All that was done to lower premiums uneconomically to buy votes. It worked. It worked for Crist –not for taxpayers.
June 28th, 2009 at 3:43 pm
If all the above is not bad enough, wait until you get new tags or registration for your car. Oh, and your driver licenses too. He just about doubled the “Fees”, i.e. “Taxes” on those items. Thanks Governor. You really are something else!
July 1st, 2009 at 9:46 pm
Charlie Crist said “The bill would give large insurance companies leeway to cherry pick and redline without protecting consumers. He also said it would harm consumers and investors of some 40 small domestic insurers that have sprouted up the past few years. The rates of these insurers would not have been deregulated.”
When this is analyzed, it is clear that those who would be “Cherry Picked” are in less risk areas and/or lower priced homes. This means they are subsidizing more expensive and higher risk property (Mansions on the Coast)owners. The consumer is subsidizing the wealthy and lowering their insurance premiums… sharing the little wealth of the poor and middle class for the wealthy. No wonder Charlie is “Bait & Switches” favorite Governor.
November 1st, 2009 at 7:54 pm
I find it amazing that people vote for corrupt bastards like Crist, all we need is another worthless senator from Florida, I am tired of them. There must be a way we can educate the public about the scoundrels running for office. The mainstream media needs to start doing it’s job and informing the public of truth but we know that it will be a cold day in hell before that happens.
I believe the entire world must think Americans are nothing but a bunch of idiots, constantly re-electing corrupt criminals into public office. Maybe most are idiots, I am beginning to think so, only because most people believe the MSM is telling them the truth and are too lazy or stupid to think for themselves and seek facts. We need a third political party, both major parties are totally corrupt. The GOOOH party is a great idea but the name is a bit scary to sell to uneducated dancing with the stars watchers.
February 1st, 2010 at 7:11 pm
Keep all this mind because the primary is in August…We can get rid of him so he can go to work for obama