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Florida bill would build center to improve property insurance affordability | Florida

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Florida bill would build center to improve property insurance affordability | Florida

www.thecentersquare.com – By Steve Wilson | The Center Square – (The Center Square – ) 2025-03-28 08:11:00

(The Center Square) – A bill in the Florida Senate would create a center to research the accessibility and affordability of property insurance.

Senate Bill 114, sponsored by Sen. Jay Trumbull, R-Panama City, would rename the Florida Catastrophic Storm Risk Management Center to the Florida Center for Excellence in Insurance and Risk Management and move it from Florida International University in Miami to Florida State University in Tallahassee. 

Under the Trumbull bill, the center would be required to collaborate with the Office of Insurance Regulation to produce an annual report analyzing the property insurance market. These reports would provide recommendations on improving both the accessibility and affordability of property insurance. 

SB114 would allocate $5 million to start the center and $1.5 million in an annual appropriation to funds its operations. 

The insurance office would be required to contract with the new center to manage the state’s public hurricane loss projection model, which was created by lawmakers in 2000 and put in place at FIU.

This model, unlike the ones used by insurers, would have its assumptions and methodologies open to public review. Lawmakers in the last two fiscal years have appropriated $1.2 million and $2.2 million for improvements to the model.

Florida’s property insurance market has been hit hard after the state was struck by three hurricanes in 66 days last year, tying a record. According to a report by Insurify, Florida has the highest rates nationally at nearly $11,000 in 2023 and the report predicted a 7% increase for 2024. 

“The high cost of homeowners insurance is top of mind for Florida families,” Trumbull said in a news release. “Reforms passed by the Legislature have helped stabilize the property insurance market, and we are finally starting to see some companies lower rates.

“This bill will keep up the positive momentum, creating the premier academic insurance research center in the nation to identify mitigation and resiliency steps Floridians can take to fortify their homes. It also ensures state regulators have the most up-to-date information available to set rates and affirm the financial health of insurance companies.”

In 2007, the Legislature created the Florida Catastrophic Storm Risk Management Center (Storm Risk Center) within the Department of Risk Management of Florida State University’s College of Business.

Lawmakers appropriated $7.9 million to the project starting in 2008 until fiscal 2015-16, when then-Gov. Rick Scott vetoed an outlay of $1.5 million which ended the project.  

A companion bill, House Bill 1097, is in the House.

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Jim talks with Rep. Robert Andrade about his investigation into the Hope Florida Foundation

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Jim talks with Rep. Robert Andrade about his investigation into the Hope Florida Foundation

www.youtube.com – CBS Miami – 2025-04-20 11:00:57

SUMMARY: Jim discusses Rep. Robert Andrade’s investigation into the Hope Florida Foundation with him, focusing on the misuse of $5 million intended for charity that was allegedly redirected to political action committees. Andrade aims to uncover why this occurred and the assurances provided by attorney Jeff Aaron and chief of staff James Um. The investigation raises concerns about accountability in the governor’s office, with Andrade questioning the legitimacy of Hope Florida’s claims of assisting families and highlighting a lack of metrics to measure their success. Amid resignations from Hope Florida leadership, Andrade plans further hearings, asserting the issue transcends partisan politics.

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The chairman of a foundation tied to Hope Florida — Florida First Lady Casey DeSantis’ signature welfare-assistance program — said under oath last Tuesday that “mistakes were made” with the foundation’s record-keeping, as a skirmish over the group’s finances continued to escalate.

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Countries shore up their digital defenses as global tensions raise the threat of cyberwarfare

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www.news4jax.com – David Klepper, Associated Press – 2025-04-20 07:24:00

SUMMARY: Hackers linked to Russia’s government targeted municipal water plants in rural Texas last spring, testing vulnerabilities in U.S. infrastructure. These attacks highlight growing global cyber threats amid escalating tensions, with experts warning of a digital arms race. As geopolitical conflicts rise, countries like China, Russia, Iran, and North Korea strengthen cyber cooperation. Despite these threats, former President Trump’s actions, such as reducing cybersecurity resources, have raised concerns. Meanwhile, experts stress the need for stronger cyber defenses and collaboration between governments and businesses to counter growing risks. The situation underscores the increasing role of cybersecurity in national security.

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15 years after Deepwater Horizon oil spill, lawsuits stall and restoration is incomplete

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www.clickorlando.com – Jack Brook, Associated Press – 2025-04-20 00:17:00

SUMMARY: Fifteen years after the Deepwater Horizon spill, its effects persist in the Gulf Coast. BP paid billions in damages, funding coastal restoration projects, but health-related lawsuits from cleanup workers and locals have struggled in court, with few compensations. Environmental efforts have made progress, with over 300 restoration projects worth $5.38 billion. However, a flagship land-creation project in Louisiana has stalled, sparking controversy over its effects on local industries. Additionally, the Trump administration plans to expand offshore drilling despite warnings about the legacy of the spill. Environmental advocates remain concerned about the future of the Gulf’s restoration.

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