The American Property Casualty Insurance Association (APCIA) today issued the following statement, attributed to its assistant vice president of state government relations Logan McFaddin, regarding the passage of Senate Bill 76 (Residential Property Insurance) by the Florida Senate.
“APCIA applauds the Florida Senate for supporting the property insurance reforms in Senate Bill 76. Senate Bill 76 is an important piece of legislation that will help address some of the challenges in Florida’s property insurance market that contribute to higher costs for consumers.
“Many homeowners in Florida are facing a steep rise in insurance costs as property insurers face billions in recent losses from natural disasters and out of control litigation costs. Senate Bill 76 will help alleviate some key pressure points in the insurance market by significantly reducing excessive attorney fee awards, adjusting the claims filing deadline to within two years of a loss, and addressing widespread abuses in the roofing industry.
“APCIA thanks Senator Jim Boyd for sponsoring this important legislation and for his hard work in moving the bill through the legislative process.”
The American Property Casualty Insurance Association (APCIA) is the primary national trade association for home, auto, and business insurers. APCIA promotes and protects the viability of private competition for the benefit of consumers and insurers, with a legacy dating back 150 years. APCIA members represent all sizes, structures, and regions—protecting families, communities, and businesses in the U.S. and across the globe.