Judd Legum

@JuddLegum ↗

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Last Checked Oct. 14, 2022

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Mon Oct 03 12:41:20 +0000 2022

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Judd Legum @JuddLegum

7. In May, DeSantis called a special session, purportedly to address the property insurance crisis. The session resulted in lowering the threshold for the industry to access taxpayer-financed reinsurance by $2 billion. This didn't meaningfully address the problem. — PolitiTweet.org

Posted Oct. 3, 2022

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Judd Legum @JuddLegum

6. But Citizens has limited resources. It currently has $13.5 billion available to pay out claims. If Citizens runs out of money, Florida law "allows [Citizens] to assess non-customers to pay out claims." A "hurricane tax." https://t.co/el450oM7QI — PolitiTweet.org

Posted Oct. 3, 2022

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Judd Legum @JuddLegum

8. But the law provided "no guarantees" that the savings created by the taxpayer-financed reinsurance program would be passed to consumers. Advocates warned it was "an industry bail-out that won’t result in savings to consumers." https://t.co/el450oM7QI — PolitiTweet.org

Posted Oct. 3, 2022