Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time
Triple-I: Homeowners Insurance
MAY 8, 2024
Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s property/casualty insurance market recover from its crisis of recent years, according to a new Triple-I Issues Brief. Claims-related litigation is down, the “ depopulation ” of the state’s insurer of last resort continues apace, and underwriting profitability – while still in negative territory – has improved significantly.
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