TAMPA, Fla. (WFLA) — It was a surprising departure in the wake of a special session on Florida’s property insurance crisis. The state’s insurance commissioner has turned in his resignation.
8 On Your Side Investigator Mahsa Saeidi has the breaking developments.
For more than six years, David Altmaier has been leading the Florida Office of Insurance Regulation. His job is to promote a stable market.
As we’ve been reporting weekly, Florida’s property insurance market has been anything but recently. Homeowners have seen rates skyrocket. Companies have gone bankrupt or stopped writing business in the state.
Commissioner Altmaier has put the blame on excessive litigation; attorneys that file unnecessary lawsuits, and drive costs up. Altmaier is the one who approves or denies rate hikes.
According to a copy of a resignation letter obtained by Investigator Mahsa Saeidi, his last day will be Dec. 28, 2022.
This breaking news comes just one day after Florida lawmakers approved sweeping legislation to stabilize the state’s troubled market. Florida homeowners pay some of the highest premiums in the country.
Supporters claim the new law will fix that in 18 to 24 months.
Gov. Ron DeSantis’ Office sent us the following statement, confirming the news.
Statement from Communications Director Taryn Fenske:
“We’ve had another successful Special Session in Florida, delivering toll and tax relief and providing a more competitive market for property insurance.
With this successful Special Session behind us, the Office of Insurance Regulation Commissioner David Altmaier will be stepping down at the end of this year.
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. We want to thank him for his years of public service.”
8 On Your Side is working on learning more about this breaking news.
If you have a property insurance story to share, email Mahsa Saeidi at MSaeidi@WFLA.com.