Crist vetos "State Farm Bill"06/22/09 9:28am
After much speculation surrounding State Farm and the proposed Rate Deregulation Bill it was, in the end, vetoed by Governor Crist. In his veto message the Governor said this bill would prove harmful to consumers and the investors of the small domestic insurers that have surfaced in response to the lack of property markets. (PIA of FL)
This bill which was intended to keep State Farm from leaving and to attract other large insurers to the state by deregulating their rates still has supporters that will try to push it through by a two-thirds vote before dying on Crist's desk. As of right now, though, we must wait and see if State Farm will follow through on its threat to vacate the state.
NEWS/PRESS POSTS