Florida’s insurance commissioner quits during crisis that’s hitting homeowners hard [Miami Herald]
Florida’s insurance commissioner submitted his letter of resignation Thursday, a day after the Legislature made major changes to the state’s troubled property insurance market.
“I am so proud of the work the Office has been able to accomplish during my tenure,”
Altmaier, 40, did not say whether he was leaving for another opportunity. His last day is
“Since the Governor took office, Commissioner Altmaier has been instrumental in helping to pass and implement major property insurance reforms to bring relief to Floridians,” DeSantis spokesperson
READ MORE: Legislature passes insurance reforms, but that doesn’t mean your policy price drops
As the state’s top insurance regulator, Altmaier has presided over the state agency that approves industry rate filings, conducts investigations into insurers’ behavior and can declare insurers insolvent.
An analyst who started at the agency in 2008, Altmaier rose through the ranks until he was named as commissioner by then-Gov.
Since then, the state’s property insurance market has imploded. Eight companies have gone insolvent since 2019, and dozens of others have stopped writing new policies or pulled out of the state.
Homeowners’ insurance premiums have gone through the roof, with Floridians now paying an average of more than
This week, legislators convened in
The changes included limits on lawsuits against insurers that were long sought by the industry. Altmaier endorsed the legislation and said he believed it would eventually lead to lower premiums.
READ MORE: Some Florida insurance CEO’s earned huge salaries in hurricane-free years
“During David Altmier’s time as Insurance Commissioner, insurance policies have become far more expensive and cover less than ever before,” Rep.
Altmaier’s resignation was foreshadowed on Monday, when Sen.
Berman was rebuked by committee chairperson
Altmaier did not address Berman’s comment but said that a pending study of the property insurance market would continue regardless of who was in charge.
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Florida’s insurance commissioner quits during crisis that’s hitting homeowners hard [Miami Herald]
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