Independent Candidate Proposes Florida Catastrophic Hurricane/Wind Protection Program Providing Up to $500,000 in Basic Dwelling Coverage While Restoring Accountability and Affordability
NEW SMYRNA BEACH, Fla., July 21, 2026 /PRNewswire/ — Most Florida homeowners don’t realize they could face insurance assessments after a catastrophic hurricane even if their own insurance company never fails. Independent gubernatorial candidate Frank J. Russo today unveiled the Floridians First Property Insurance Reform Act centered on making homeownership affordable again.
The proposal’s centerpiece is a Florida Catastrophic Hurricane/Wind Protection Program providing up to $500,000 in basic dwelling coverage. Designed for affordability, the policy focuses on essential catastrophic hurricane/wind protection while helping satisfy mortgage requirements. Subject to actuarial validation, Russo believes the model could reduce premiums by as much as 50% for many homeowners.
“Florida’s insurance crisis has become a housing affordability crisis,” Russo said. “Our goal is simple: keep Floridians in their homes through affordable, transparent and financially responsible insurance reform.“
Key Reforms
- Create a Florida Catastrophic Hurricane/Wind Protection Program providing up to $500,000 in basic dwelling coverage focused on affordability.
- Lower property insurance costs by addressing one of the largest drivers of Florida insurance premiums.
- Put Homeowners First through a Florida Homeowner Bill of Rights.
- Restore Transparency and Accountability through public actuarial studies, financial reporting, and a statewide Reform Dashboard.
- Strengthen Responsible Market Competition while maintaining strong solvency oversight. • Build a Stronger and More Resilient Florida through mitigation grants, home-hardening incentives, and resilient infrastructure investments.
- Reinstate an elected Florida Insurance Commissioner through a constitutional amendment, returning accountability directly to Florida’s voters not political appointment. Floridians deserve an Insurance Commissioner who answers first to the people they serve.
If elected, Russo said property insurance reform would be part of his first-100-days priority, including legislation, homeowner listening sessions, and measurable affordability goals.
About Frank J. Russo
Frank J. Russo is a lifelong Floridian, entrepreneur, insurance executive, real estate developer, and humanitarian with more than 40 years of business leadership, including over 30 years in the insurance industry. Based in New Smyrna Beach, Russo is running for Governor to restore affordability, strengthen Florida’s economy, and build a government focused on practical solutions that put Floridians first. For more information, or to volunteer or donate, visit Russo2026.com.
Media Contact
Mary Elkordy
Press@russo2026.com
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SOURCE Frank J. Russo for Governor
