A proposal by Florida’s largest property insurer to raise sinkhole premium rates by 429 percent across the state is facing a backlash from lawmakers, many of whom voted for a new law that allows the rate hike to take place.

State-backed Citizens Property Insurance, which holds 1.3 million policies throughout the state, filed the rate request Tuesday with the Office of Insurance Regulation as a way to prevent the $213 million in sinkhole-related losses it incurred in 2010 from happening again.

SB 408, a new law that allows Citizens to decouple its sinkhole rates from its overall 10 percent annual cap, was passed by legislators this year and signed by Gov. Rick Scott, but many of them were shocked by the amount of the increase. Some increase is needed, they concede, but Citizens isn’t considering the provisions of SB 408 aimed at preventing fraudulent or frivolous sinkhole claims, which are at the heart of a surge in claim losses in recent years.

“It’s economic disaster for this state if these rate increases by Citizens are approved by OIR,” said Sen. Mike Fasano, R-New Port Richey, a staunch opponent of SB 408.

But it's not just Fasano who's opposing the rate hike. Legislators who voted for SB 408, like Sen. Charlie Dean, R-Inverness, Rep. Rob Schenk, R-Spring Hill, and Rep. John Legg, R-Port Richey, were shocked to see the extent of Citizens’ rate hike request.

Dean took to Twitter Thursday to announce his plans to hold rallies against the rate increases in his district, which includes the coasts of Panhandle counties Jefferson, Taylor, Dixie and Levy.

Neither Dean nor Schenk returned calls for comment Thursday.

Dean's district faces modest increases, but it is in “sinkhole alley” in western Central Florida, where the real impact will be felt.

Policyholders in coastal Pasco County face a jump in sinkhole premiums from $1,270 to $3,598 -- a hike of 183 percent. In the rest of the county, the increase would be more than 200 percent, from $1,475 to $4,440. In coastal Hernando County, rates would climb from $1,356 to $5,734 (320 percent), and in the interior of the county, a 471 percent hike from $1,084 to $6,192 is on the table.

The state’s Insurance Consumer Advocate Robin Westcott sent letters Wednesday to OIR Commissioner McCarty and Citizens executive director Scott Wallace, asking that an “incremental” approach be taken to the rate increase, if it is approved.

“After the full review in this matter, if a rate increase can be properly supported and that increase is substantial in nature, Citizens should self-impose an incremental approach in implementing an increase,” Westcott wrote to Wallace.

Westcott echoes the opinion of Chief Financial Officer Jeff Atwater, who -- as Senate president from 2008 to 2010 -- helped implement the 10 percent annual cap on rate increases for Citizens. He stated during a Cabinet meeting Tuesday that gradual increases should be used to ease customers into the new realities of the market.

As Westcott wrote in her letter to Wallace: “Acknowledging the mandate for actuarial sound rates does not mean that you abandon the consideration of affordability with an incremental approach that is accepted practice in the industry.”

Legg and other lawmakers who supported SB 408 have said Citizens needs to take the law’s fraud prevention measures, like ensuring claims go to home repairs, into their rate request. But Citizens claims it did exactly that.

“Citizens did, in fact, take into consideration the provision of Senate Bill 408 when preparing our sinkhole rate filing,” Citizens' spokesperson Candace Bunker said earlier this week.

For Fasano, lawmakers who are surprised by the rate hike shouldn’t be. A gradual rate increase was already in place with the cap or glide path, but they voted to repeal that for sinkholes, he said.