Crist vetoes insurance reform act - Business First of Buffalo:

http://tevla27.com/426/
The so-called Consumer Choice act was primarily aimed at State the state’s largest private property insurer, which announced in Januar that it would withdraw from the Floridq market. State Farm neverf said whether the right to pick customer s and set rates on its own would change its In an letter to Secretarh of State Kurt Browningy that accompaniedthe veto, Crist said the act, known as House Bill would reverse a trend of lowered rates. “Thisd [act] will likely resulg in significant and unprecedented rateincreased that, during difficult economic times, people simplty can’t afford,” Crist said.
Crist said that if the act becamer law, it would red line high-risjk parts of the state and undermine marketplace Proponents of the bill have argued that Florid needs big insurers with pockets deep enough to cover costs associated withlarged hurricanes. Insurers, including State Farm, have said the Floridq regulators won’t allow rate increases to cover their making coverage inthe hurricane-prone state an unsoundr risk.