Gov. Charlie Crist shakes hands this morning with panelists of a kids-only town hall meeting. Students from around the state gathered in Tallahassee to voice their opinions and ask questions about state government. (AP)

UPDATE: Senate President Jeff Atwater sent word through his spokeswoman that “20 percent is too much.”

Gov. Charlie Crist said the main property insurance bill in the legislature had little chance of passing, calling the proposed 20 percent cap for increases to individual Citizens policy holders “excessive” and questioning whether the measure would get past Senate President Jeff Atwater, R-North Palm Beach.

“As I’m sure you know, Atwater was one of the strongest leaders in giving us the opportunity to strengthen Citizens,” Crist said. “So I don’t know if that’s going to go very far.”

The proposal is expected to contain several changes, including one that would use the state pension fund to loan $2 billion to the Florida Hurricane Catastrophe Fund in the event of a major storm.

Crist said he wasn’t wild about that one, either.

“Getting some backup from the federal government, I think, is a better way to go,” Crist said. “I think it’s very doable.”

Last year, Crist and the Cabinet paid Warren Buffett’s Berkshire Hathaway $224 million for a promise to loan the state $4 billion if a major storm hit the state. This year, Crist and the Cabinet are appealing to the federal government. More on that attempt here.

Both Crist and Atwater have refused to support another rate freeze for Citizens policy holders. The state-run insurer has not increased rates since 2006. (Although, here’s a story about how Citizens inflated some premiums.)

This morning, Crist didn’t react to a proposal to increase Citizens rates by a statewide average of 10 percent. But he said a 20 percent cap on individual policies “sounds a little high.”

“That sounds a little excessive to me,” Crist said. “I think incremental is fine. but we’ve got to keep it low — a low increment.”

(We’re waiting to hear Atwater’s thoughts on the proposal.)

The proposed rate increases came from the Citizens mission review task force in January. Sen. Garrett Richter, R-Naples, and Rep. Bryan Nelson, R-Orlando, are expected to fold the measures into their respective insurance bills.

Richter’s bill (SB 1950) is scheduled for a Senate committee hearing on Wednesday. Nelson expects his bill (HB 1495) to receive a House committee hearing by the end of the week.

Tags: Citizens, Hurricane Catastrophe Fund, Jeff Atwater, Property Insurance

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