Personal Insurance Federation of Florida Applauds Work to Restore Balance
The Florida Senate today passed a bill that addresses litigation cost drivers in the property insurance market and helps restore balance to Florida’s civil justice system. Senate Bill 76, sponsored by Sen. Jim Boyd, R-Bradenton, and co-introduced by Sen. Jeff Brandes, R-St. Petersburg, passed favorably with a bipartisan 27-13 vote.
The Personal Insurance Federation of Florida (PIFF) praised lawmakers for prioritizing consumer protections this session.
“Florida is in a precarious position,” said Michael Carlson, president and CEO of PIFF. “Higher insurance rates are driven by a number of factors, but greatly exacerbated by the litigation industry which has found loophole after loophole to exploit consumers. This legislation is a great step toward reigning in the rampant litigation abuse in Florida.”
Senate Bill 76 includes provisions designed to reduce the cost of property insurance lawsuits by targeting excessive attorney fees, which incentivize litigation and increase property insurance costs. The bill also addresses roof damage claims in which neighborhoods are often canvassed and homeowners are solicited to file claims for repairs.
“We are grateful to Senators Boyd and Brandes for championing consumer protections and bringing conversations about insurance market stressors to the forefront,” Carlson added. “We hope that with the help of Florida lawmakers our state can correct its course and avoid disaster in the insurance marketplace.”
PIFF is a member of the Consumer Protection Coalition, a group advocating for sound public policy that puts consumers first.
The Personal Insurance Federation of Florida, Inc. (PIFF), is a leading voice for the personal lines property and casualty insurance industry in Florida. PIFF represents national insurance carriers and their subsidiaries, including many of the state’s top writers of private passenger auto and homeowners multiperil insurance. Together, PIFF members write more than $13 billion in premiums in the state. PIFF advocates for a healthy and competitive insurance marketplace for the benefit of Florida consumers. Visit PIFF.net to learn more.