Property Insurance

The impact of rising homeowners’ insurance premiums, reduced coverage, and policy cancellations is a problem Floridians know all too well. But this is no longer just a Florida problem. With the risk of major natural disasters striking many parts of the United States, including tornadoes, earthquakes, wildfires, hurricanes and great floods, property insurance rates are skyrocketing through the United States.

As a new Member of Congress, I sought and received a seat on the Financial Services Committee, which governs insurance. I worked with Rep. Tim Mahoney to draft a new and innovative approach to fixing our insurance problems by spreading the risk throughout the country. This common sense plan, named The Homeowners’ Defense Act of 2007, makes sure insurance companies do what they are supposed to do – spread the risk.

In a historic move, the House of Representatives passed The Homeowners’ Defense Act on November 8, 2007, delivering a victory for homeowners in Florida and across the United States. With the passage of this bill, we’re one step closer to providing homeowners from all corners of this country the relief they deserve.