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Statement by Brad Ashwell in Response to Gov. Crist’s Veto of SB 1171 - A Bill Designed to Eliminate Insurance Rate Regulation
“Today Governor Crist sided with consumers by standing up to the insurance industry and vetoing legislation that would have allowed the largest companies to charge excessive rates without any state oversight.”
“Nothing in this bill guaranteed more choice for consumers but this bill definitely would have led to higher insurance rates.”
“Florida PIRG commends Governor Crist for putting the public interest ahead of the interest of national companies who have repeatedly shown a lack of commitment to our state by dropping policies, seeking rate hikes for the ones they keep, and then threatening to pull out if they aren’t allowed to gauge customers.”
“This was an anti-consumer solution to a real problem our state faces. Floridians need affordable, dependable insurance from the private market. But this bill would not have led to that goal. HB 1171 would have raised rates, destabilized the market and put smaller insurers at a competitive disadvantage thereby reducing choices for consumers.”
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