The bill, 1171 called the Consumer Choice Act, would let the biggest companies in the state set their own rates without say from state regulators. At least one company has threatened to leave without more control over their rates that this bill would offer.
The Office of insurance regulation opposes the bill, claiming it would create an unfair market.
Ed Domansky with the OIR said there is no guarantee that the companies will stay.
"Neither State Farm nor any other insurance company in Florida has come to the commissioner and indicated that they plan to offer policies or stay in the state of Florida if HB 1171 becomes law," Domansky said that there are plenty of other companies will to offer insurance if the bill is vetoed.
The company most connected to the bill is State Farm, who has threatened to leave the state and their million or so policies if they are not allowed to dramatically increase their rates.
State farm agent Dick Franklin said things are already unfair, against them.
"State Farm does offer a good value and it is the only company out here that has the claims expertise that is ready to roll in when the hurricane hits," Franklin said.
He said State Farm rates are dangerously low, and would still be low even if raised by 50-percent or more. He said this bill does nothing more than all consumers the choice of that company they want to go with without government controlling the rates.
The governor has until the end of the week to make a decision on the bill.