The centerpiece of Russo’s Floridians First Property Insurance Reform Act is the creation of a Florida Catastrophic Hurricane/Wind Protection Program. This initiative would offer up to $500,000 in basic dwelling coverage, specifically designed to satisfy mortgage requirements while stripping away extraneous costs. Russo, an insurance executive with three decades of industry experience, argues that the current market structure has transformed a systemic coverage issue into a broader housing affordability crisis.
Frank J. Russo Pushes Insurance Overhaul to Halve Florida Premiums
Florida homeowners face a hidden threat: mandatory assessments following catastrophic storms, even if their own insurers remain solvent. Independent gubernatorial candidate Frank J. Russo is now countering this volatility with a proposed legislative package aimed at slashing annual insurance costs by up to 50 percent through a state-backed protection program.
Beyond immediate premium relief, the proposal demands a structural shift in state oversight. Russo is calling for a constitutional amendment to make the Florida Insurance Commissioner an elected position, moving the role away from political appointments to direct voter accountability. His platform also includes a Homeowner Bill of Rights and a statewide Reform Dashboard intended to force transparency through public financial reporting and actuarial studies. If elected, the candidate plans to prioritize these measures within his first 100 days in office, utilizing home-hardening incentives and infrastructure grants to bolster long-term market resilience.
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