Florida House Speaker Perez Calls for Hearings Amid Property Insurance Profits Report

Florida House Speaker Perez Calls for Hearings Amid Property Insurance Profits Report

Florida House Speaker Daniel Perez is calling for investigations into the state’s property insurance companies, following a recent report suggesting they may have misled the Legislature regarding their financial status.

The report, published by the Tampa Bay Times, revealed that some insurance companies funneled billions of dollars to their parent companies while simultaneously claiming financial hardship. These claims were made two years ago, during a period when the insurance industry was lobbying for legislation that made it more difficult for people to sue them. That legislation passed.

Speaker Perez, a Republican from Miami, has now requested House hearings to examine the findings more closely. “We have since learned the reports in existence at the time, but not disclosed to the Legislature, that may suggest some insurance companies were using accounting tricks to hide substantial profits while telling us they were in a crisis. I have asked the Insurance and Banking subcommittee to conduct hearings, and they will have access to the full range of tools, including issuing subpoenas, putting witnesses under oath and hiring outside experts,” he stated.

Senate President Ben Albritton also expressed a desire for stricter oversight of insurance companies. “We’ll hold insurance companies accountable for the rates they charge and the services they provide when disaster strikes. They aren’t going to manipulate the system. And, neither is any other industry. Not on my watch,” he affirmed.

The two legislative leaders also briefly addressed Governor Ron DeSantis’s call for a Florida government efficiency task force, known as DOGE. DeSantis’s aim is to investigate perceived hidden diversity, equity, and inclusion programs, along with government waste within agencies and universities.

Albritton pointed out that Florida already has an existing government efficiency task force, but acknowledged the need for modernization, proposing a separate plan. “Sen. (Erin ) Grall is sponsoring legislation by which all state agencies would be required to complete a five-year full and complete rule review process,” he explained. “Each agency will review 20% of all rules each year to identify if any changes, amendments, or repeals are necessary. Improved oversight of administrative rules will go a long way toward keeping government more accountable to Floridians. That’s the way government is supposed to work, in its foundation,” Albritton said.

Speaker Perez also announced his commitment to increased scrutiny over budgetary spending. “I’m challenging our budget subcommittee chairs to dive into the budget and find real savings in recurring revenue. Members, this money doesn’t belong to us. It belongs to the people of Florida,” Perez said.

Neither legislative leader directly commented on DeSantis’s DOGE plan, and their proposed policies did not include empowering the governor’s task force. Instead, they appear to be asserting their independence, a pattern that began during earlier special sessions focusing on immigration, a trend expected to continue throughout the legislative session.