A full house of curious
The legislation creates a
“So I did feel more informed knowing that, OK, they are working for us. There is something that they’re doing for us as homeowners to try to level out the playing field for us,” Sanchez said.
She had hoped to get more answers on what the new bills said about roof deductibles but was left with questions and said “there was not enough detailed with that part.”
“Is there a part of (problem) that’s going to be fixed? I think so. But on a majority of the key issues, I think there’s still more work to be done,” Sanchez said.
Guest panelists included state representatives
Chapman told The News-Press that the No. 1 issue
Giallombardo told The News-Press the biggest changes the bill brought were litigation reform and
He blames lawsuits in the state filed by contractors who attempt to collect money from insurance companies through civil lawsuits after homeowners sign over their assignment of benefits, an agreement that transfers the insurance claim rights and benefits of the policy to a third party.
He also clarified that homeowners can still sue if they are not treated fairly, but contractors can no longer litigate on the homeowner’s behalf.
Giallombardo said some parts of the legislation that deal with litigation reform are tied up in court right now, but he will be looking to do more litigation reform.
“What we got was, oh, OK, they can’t drop you after your roof is 15 years old. Well, the life expectancy of a roof is 20 to 25 years. I’ve lived here my entire life, and I’ve never seen a roof just randomly blow off after 12 years,” Reagan said.
She understands the insurance lawsuit situation but said it’s the insurance industry’s fault and
“They’re just here to deliver the message not a single one of them can be responsible for the crisis that was had during the insurance roofing scam or any of this,” Reagan said. “I just think there are better ways to handle it.”
Chapman said the new legislation is a great first step, but there are problems regarding how much they can fix.
Under the new legislation, insurance companies also cannot refuse to write or renew a policy based on the age of a roof if it is less than 15 years old or if an inspection says there are five years of roof usage left.
“So that’s great. Sounds good. But the problem is, is the insurance companies are allowed to come up with 100 other reasons they don’t want to write it,” Chapman said.
He said carriers are required to pass on any money saved from the
“I think right now, in my opinion, they pass that portion of it to keep carriers in business, not for them to have this huge windfall of money,” Chapman said.
Rommel said he knew there would be a lot of angry people upset with high rates and canceled policies, but he believes the legislation will help residents.
He said the reforms should attract big insurance carriers and more competition to stabilize the insurance market, but it will take some time to see the effects.
“With the bill that we passed. I believe we’re gonna get those carriers,” Rommel said. “But I can promise you, things are gonna stabilize.”