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Pasco Residents, Fasano Protest Proposed Sinkhole Insurance Rate Hike

There will be a public hearing on Sept. 13 at the Tampa Convention Center.

 

Roughly 100 people gathered along the edge of the Pasco County Government Center on Tuesday to protest a proposed raise in sinkhole insurance rates with Citizens Property Insurance, the state's insurer of last resort. The event was organized by State Sen. Mike Fasano, R-New Port Richey, and Policyholders of Florida.

They crowded along the sidewalk, waving signs at cars passing on Little Road. Some cars honked in approval. Fasano was there, sweating with the crowd in the 90-plus-degree Florida heat.

“It’s affecting my constituents,” Fasano said, referring to the potential 2,000 percent increase in insurance rates in areas of Florida, including some areas of the Tampa Bay. “There are very few people in Tallahassee looking out for the little people,” he said

Fasano lives in Trinity and has Citizens Property Insurance. He plans to be at a public hearing on Sept. 13 at the Tampa Convention Center.

Kevin McCarty, Florida Insurance Commissioner, will be there to hear public opinions on the proposed rate increase. The proposed rate raise now only await approval from his office.

Linda Zozzaro, 62, lives in New Port Richey. She had to move several times and lost money during the housing market crash.

“If Citizens raises anything ... I’m going to have to let the bank foreclose on my home and move out of state,” Zozzaro said. She plans to be at the rally next month.

Dominick Sinopoli, a project consultant for NEC Keystone Inc., a business that fixes sinkhole damage, was at the protest.

“It’s a difficult situation on both ends,” Sinopoli said. He was sympathetic for both homeowners stuck with high rates and insurers. He said that sometimes soft clay or decomposing material can cause shifts in the soil under a house. Sinkhole insurance providers can get stuck paying the bill for something that isn’t actually a sinkhole.

Sinopoli said he felt some increase in rates might be acceptable. However, “to the extent they’re proposing is maybe a bit excessive,” he said.

Wood-frame houses are much lighter than block houses and less susceptible to sinkhole damage.

Sinopoli felt that termites were less of a threat than sinkholes, since they can be prevented with pest-control. Homeowners can’t change the soil under their house.

Sean Shaw, founder of Policyholders of Florida, was also at the protest.

“It’s terrible,” Shaw said of the proposed rate increase. “That’s why we’ve got so many people here.”

Shaw said that members of the Tea Party, Democrats, Republicans and union people were in attendance. He was glad to see groups that are typically divided come together on an issue.

Shaw will be at the public hearing at the convention center. He hopes to get a chance to speak.

“We’re just trying to keep Tallahassee honest,” Shaw said.

You can send comments on the proposed rate increases to ratehearings@floir.com. Be sure to put “Citizens” in the subject line of the email.

UPCOMING EVENT:

What: The Florida Office of Insurance Regulation will be holding a public hearing to discuss the Citizens rate increase. The hearing will be broadcasted live on the web at http://thefloridachannel.org

Where: Tampa Convention Center, Ballroom D

When: 4-10 p.m. Sept. 13.

So what?: This is your chance to let Kevin McCarty, Florida Insurance Commissioner, know what you think.

Related Topics: Citizens Property Insurance, Sen. Mike Fasano, and sink hole coverage
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