Miami
Byron Donalds attacks David Jolly’s insurance proposal in Florida Governor’s race
The Republican candidate said the plan would move risk and costs onto the state and policyholders. He also outlined his own ideas on rebuilding and premium reductions.
Byron Donalds criticized David Jolly’s insurance proposal, arguing that it would shift risk to the state of Florida and create unfunded obligations, according to Florida Politics.
Speaking in Pinellas County, Donalds said Jolly’s approach would have the state take over all wind insurance in Florida. He argued that the move would cost roughly $30 million to $40 million and lacks a clear funding mechanism, Florida Politics reported.
Donalds also challenged Jolly’s idea of taxing insurance companies. He argued that if insurers lose the ability to write policies in a segment that makes up a large share of their Florida business, there would be little basis to tax revenue they would no longer earn, according to the outlet.
He further objected to the proposal to divert tourist development tax money from local governments into a state fund. Donalds also rejected Jolly’s claim that premiums could be cut by 60% to 70%, saying instead that the plan would hurt agents and policyholders, Florida Politics reported.
He likewise criticized the proposal to add new fees to Florida documentary tax stamps to finance a new catastrophic fund. In his view, that approach would still fall short of raising the money needed and would place the burden on homebuyers.
As an alternative, Donalds said that if elected Governor he would make rebuilding permits automatic unless the Federal Emergency Management Agency requires a different standard. He also said he wants to speed up post-storm processes, including initial cleanup work, and use the privately funded Florida Disaster Fund to keep contractors ready to help residents rebuild faster.
By streamlining that process, Donalds said, premiums could be reduced by 20% to 25%, which he presented as part of his broader affordability message.
Sources
About this piece. Written by El Notero with AI assistance, from reporting published by the outlet cited above. El Notero did no original reporting on this story.
