Ending a week-long lobbying and negotiations between the House and Senate, the lawmakers in Florida finally arrived on a consensus on Friday, whereby they consented on the decision of allowing a maximum of 10 percent annual increase in Citizens Insurance premiums. The bill, which has been sent for Gov. Charlie Crist's approval, will take effect this year onwards.

The bill, passed in the final day frenzy of the annual spring legislative session, was one of the few changes that the lawmakers approved. Another important decision taken on the last day of the regular session was the passage of legislation related to private property insurance rates and companies providing insurance of last resort to high-risk businesses as well as homeowners.

The Citizens premium legislation (HB1495/SB1950) was voted 80-35 in the House, indicating conciliation with the Senate's proposed 5 percent annual increase. The legislation sets a purported ''glide path'' of steady annual premium increases, which would help Florida reduce its financial risk by augmenting cash assets and decreasing the accountability in the state's Hurricane Catastrophe Fund.

Commenting on the proposed increase in Citizens' rates, which had been frozen since 2007, House sponsor Rep. Bryan Nelson, R-Apopka, said: "Right now we're the Titanic heading into an iceberg. This glide path is starting to turn this ship in the right direction."