Sinkhole Hypocrisy – Florida Legistature Stuck with New Sinkhole Law

On May 17, 2011, the Florida Legislature passed S.B. 408, which severely limited a policyholder’s ability to pursue a claim against their insurance company for sinkhole related damages.  These legislators touted to the public that, in return for signing such an onerous bill into law, the insurance companies would pass along the savings garnered by these new draconian restrictions on sinkhole claims.

Guess what?  They were wrong.  In the classic example of having your cake and eating it too, the insurance companies have now sought greatly inflated insurance premium increases.  Such actions clearly fly in the face of their claims to be acting in the best interests of the policyholders.  Since the new law will greatly decrease the amount of claims which will be paid by the carriers, why are these savings not passed on?  If we didn’t know better, it might just appear that the insurance companies were only interested in profits…..

As always, we will continue to vigorously pursue sinkhole claims on behalf of policy holders – regardless of any roadblocks created by the insurance companies.