Legislation is fast-tracked to encourage private flood insurance in Florida

TALLAHASSEE — The Florida Legislature took the first step toward creating a private alternative to the National Flood Insurance Program on Wednesday, as a Senate committee unanimously approved a bill to create a framework for a regulated Florida product.

 The proposal, which passed the Senate Banking and Insurance Committee, has been put on the fast track in the Senate, which wants to jump-start the private market by allowing companies to offer homeowners alternatives to the flood insurance now available only through the federal government.

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