Insurance reform bills in flux

Property insurance reform legislation in the works the past couple of years may die this week unless House and Senate members sort out key differences quickly.

Now that the state budget has been worked out, the session is scheduled to end Friday evening. And with more than a dozen amendments lined up in the Senate, the time to address all those could draw out the debate and lead to the bill dying on the calendar.

Senate Bill 408, sponsored by Sen. Garrett Richter, R-Naples, aims to rein in so-called cost drivers that contribute to high property insurance costs for Floridians.

It may come down to the two chambers agreeing on when is a sinkhole a sinkhole. The insurance industry argues that too loose a definition ends up with insurers paying for cracks in driveways, sidewalks and foundations that may not be caused by sinkholes.

Richter's bill was amended on the House floor Tuesday to require insurers to cover sinkholes. The Senate version gives insurers the option to provide the coverage. A recent state study shows that in recent years insurers have paid out far more in sinkhole claims than premiums paid for the coverage.