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| If you want to get prepared for the upcoming hurricane season and save money at the same time, mark May 21 through June 1 on your calendar to take advantage of an important tax break. In less than three weeks, Floridians can benefit from a 12-day Hurricane Preparedness Sales Tax Holiday when no sales tax will be applied on the purchase of hurricane supplies such as batteries, flashlights, generators and storm shutters. For a detailed list of exempt items, check out the list attached below. The 12-day holiday is expected to save Floridians an estimated $41 million and help increase the number of Floridians who get prepared for this year’s hurricane season. With another active storm season predicted this year, getting hurricane ready means better protecting your home and your family, and recovering more quickly from a disaster. For more information, visit us at www.MyFloridaCFO.com and click on the “Hurricane 2006” button on the right. Godspeed,
HURRICANE SUPPLIES |
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| GALLAGHER RENEWS CALL FOR INSURANCE REFORMS AS STATE LAWMAKERS ENTER FINAL DAYS OF SESSION TALLAHASSEE- As state lawmakers enter the home stretch of the 2006 legislative session, Gallagher renewed his call for immediate rate-relief, improved access to property coverage and reforms to help strengthen the long-term stability of Florida’s property insurance market. Both the House and Senate have developed legislation that will help address the state’s property insurance crisis. “Eight catastrophic storms in 15 months caused more than $30 billion in insured damages, and Florida homeowners are bearing the brunt of this burden,” Gallagher said. “We have a property insurance crisis and Floridians deserve solutions that will provide immediate rate-relief and ensure the long-term stability and availability of homeowners insurance in our state.” But, Gallagher added, Florida’s crisis cannot be solved without federal solutions. “With 115 major disaster declarations in more than 30 different states over the past two years, we - as a nation - need to plan for the cost of catastrophes,” Gallagher said. Since 2004, Gallagher has proposed a comprehensive insurance reform plan to better protect homeowners and to reform Citizens Property Insurance Corp., the state’s insurer of last resort. Attached is a side-by-side overview of the proposals he has advocated and their inclusion in the current House and Senate property insurance bills. CONTINUED |
OPERATION SPRING CLEANING ARREST LIST
| GALLAGHER ANNOUNCES OPERATION SPRING CLEANING |
SOUTHERN FAMILY ORDER SIGNED BY JUDGE SOUTHERN FAMILY LETTER TO CFO GALLAGHER FROM COMMISSIONER MCCARTY
| SOUTHERN FAMILY INSURANCE COMPANY ORDERED INTO REHABILITATION, OTHERS PLANNED Gallagher Says Policyholders with Southern Family, Atlantic Preferred and Florida Preferred Will Continue to Be Covered This Hurricane Season Tom Gallagher, Florida’s chief financial officer, announced that a judge has ordered one of three financially troubled property insurers of the Tampa-based Poe Financial Group into rehabilitation. To ensure the company’s policyholders are protected this hurricane season, Gallagher plans to petition the court to allow policyholders unable to secure coverage in the private market to automatically transition to Citizens Property Insurance Corporation by July 1. Leon County Circuit Court Judge Thomas Bateman appointed the Department of Financial Services as receiver for Southern Family Insurance Company. As receiver for a company in rehabilitation, the department takes over the insurer’s operations and marshals the company’s resources to pay outstanding claims. “With the hurricane season starting June 1, we are relieved the judge has taken the first step in our plan to transition policyholders to the state’s insurer of last resort without any change in their coverage or premiums,” said Gallagher, who oversees the department. “Our priority now is to get any outstanding hurricane claims paid as quickly as possible.” CONTINUED |
