FL S1476

Amends rate increase limits for Citizens Property Insurance Corporation policies effective January 1, 2020, maintaining the existing 10 percent annual cap for most policies while adding a 5 percent annual cap for policies issued to insureds in counties with inadequate insurance competition and at least 25 percent designated as areas of critical state concern.

Excludes sinkhole coverage from both the 10 percent and 5 percent rate increase limits, allowing separate rate adjustments for that coverage type.

New 5 percent rate cap for specific county policies expires January 1, 2022.

Takes effect July 1, 2019.