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Statement by CFO Sink on Special Session Reforms

1/22/2007

CONTACT:  FLDFS Press Office
(850) 413-2842
 
TALLAHASSEE— With the Legislature passing a bill at the close of the Special Session on hurricane insurance, Chief Financial Officer Alex Sink offered the following statement:
 
"The Florida House and Senate are to be commended for their hard work over the past week.  By harnessing the power of bipartisanship, the Legislature was able to enact rate relief and take the first steps toward the long-term reform of Florida's hurricane insurance market."
 
"Additionally, I am pleased the Legislature balanced the need for immediate rate relief with the reality that we must guard the long-term fiscal health of our state.  Should we encounter truly devastating storms in the future, we must protect Floridians from being held liable for astronomical and unaffordable assessments."
 
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As a statewide elected officer of the Florida Cabinet, Chief Financial Officer Alex Sink  oversees the department of Financial Services, a multi-division state agency responsible for management of state funds and unclaimed property, assisting consumers who request information and help related to financial services, and investigating financial fraud. CFO Sink also serves as the State Fire Marshal.