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Financial Services Council

Make competition the primary determinant of
insurance rates, including consumer choice
for homeowners, flex rating for insurers,
and exemption from the state's approval of
rates for certain commercial.

AIF formed the Financial Services Council (FSC) to provide business leaders across the state with an opportunity to concentrate on key financial service issues facing Florida consumers and businesses. Council members include representatives from the property casualty, life and health insurance industries, as well as representatives from all other financial services organizations.

The Council has consistently voiced concern that the state’s suppression of private insurers’ rates and the property insurance structure created by the Legislature, which relies on post-hurricane taxes to pay claims, are not sustainable.

Council Priorities

The Council will focus on insurance measures that will:

  • Reform Florida’s “gotcha-style” insurance bad faith laws;

  • Reform Florida’s automobile insurance system;

  • Bring workers’ compensation re-packaged drugs dispensed by physicians under a fee schedule;

  • Support proposals to “right-size” the Cat Fund in light of its own estimates of significant funding shortfalls, thereby ensuring that the Cat Fund can meet its obligations in the event of a storm and reducing the hurricane taxes that fund its operations, as well as its possible deficits;

  • Support proposals returning Citizens to an insurer of last resort which will reduce the potential of hurricane taxes to fund its deficits;

  • Provide for greater sinkhole coverage options for consumers;

  • Support market-based mitigation initiatives that will help harden homes against wind events;

  • Exempt certain commercial insurance policy filings from readability standards;

  • Clarify the definition of a long-term care “guaranteed renewable policy”;

  • Make competition the primary determinant of insurance rates, including consumer choice for homeowners, flex rating for insurers, and exemption from the state’s approval of rates for certain commercial policies;

  • Eliminate abuses associated with stranger originated life insurance (STOLI) policies; and

  • Oppose additional health insurance mandates.


Insurance should be provided by a competitive marketplace with minimal government intervention. The FSC opposes the expansion of, or creation of new insurance “public options” subsidized by taxes. The Council supports legislation to return Citizens to an insurer of last resort, to further reduce the Florida Cat Fund’s significant exposure, and to encourage insurers to enter or expand in Florida.