JMI report encourages lawmakers to ‘hold the line’ on insurance
For AFP, transparency is the key word for property insurance reform.

Property Insurance
'Like any major reform, redirecting our insurance market to a better trajectory will not happen overnight.'

The James Madison Institute has released a whitepaper outlining recent changes to Florida insurance laws and urging lawmakers to give them time to kick in.

Lawmakers have OK’d numerous bills aimed at stabilizing the property insurance market, most of them focused on curbing litigation, which insurers have long cited as a key driver in premium increases. But despite the enactment of a major torts bill and a pair of Special Sessions on insurance, lower rates haven’t materialized.

Authored by JMI Senior Fellow Christian Cámara, “Hold the Line: Florida’s Insurance Reforms and the Path Ahead” assures lawmakers that market stabilization is on the way and asks them to “resist any pressure to dilute any of the reforms that are already having a positive impact less than a year after they were enacted.”

“Florida policymakers made great progress in the past year to address the challenges faced in our property insurance market — challenges that have festered for 20 years. Like any major reform, redirecting our insurance market to a better trajectory will not happen overnight,” said JMI Senior Vice President Sal Nuzzo.

“Insurance markets need time to respond favorably to reforms, and our litigation environment needs time to cycle through the thousands of lawsuits filed prior to the 2023 reforms being signed into law. We urge our policymakers to stay the course in their efforts ahead.”

Cámara added, “Property insurance in Florida is about geography, weather, and litigation. We can’t control the first two of those. We can influence our litigation environment. While thanks are absolutely owed to policymakers and the Governor for the aggressive reforms over the past year, translating those reforms into premium relief will unfortunately take time.

“Insurance is risk mitigation, and the flood of lawsuits filed in advance of the reforms of 2023 have to wind their way through the system before the market can adjust in ways consumers see. We hope policymakers hold the line on the efforts and improvements they made in 2023.”

Staff Reports


  • tom palmer

    December 14, 2023 at 7:19 am

    Except for the fact that other than the Assignment of Benefits scam, which has been justifiably halted, a lot of lawsuits simply involve getting insurance companies to pay valid claims.

    • Andrea Rippy

      December 14, 2023 at 5:54 pm

      I totally agree
      I had to sue for them to pay my legitimate claim without a lawyer
      I was my own lawyer
      It was pretty cut and dry

      With all of the property in Florida all of the premiums taken in for years upon years so where do all the money vanish too?

      Think about it big business too all the profits right into their pockets for years and year

      • Rick Whitaker

        December 16, 2023 at 12:29 pm

        andrea, you floridians voted for desantis twice, so that’s where the money went. quit whining about it and vote the gop out at every level.

    • Funny Thing 2050

      December 14, 2023 at 8:08 pm


    • Funny Thing 2050

      December 14, 2023 at 8:12 pm

      This is true. The state knew ins CO’s were lowballing homeowners. They also knew companies were committing fraud. Their answer was to repeal one way attorney fees. Even better an article just came out in the insurance journal that the state still hasn’t done anything about the companies committing fraud. Isn’t that comforting?

  • Funny Thing 2050

    December 14, 2023 at 8:09 pm

    Who is the James Madison institute? These jokers were in favor of repealing one way attorneys fees for homeowners.

Comments are closed.


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