Floridians Have Sent More Than 28,000 Letters to Lawmakers Opposing SB 54
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 54 (Motor Vehicle Insurance) by the Florida Legislature.
“As SB 54 heads to Governor DeSantis’ desk, he has the opportunity to protect Florida drivers from higher auto insurance costs and help keep our roads safer by vetoing this legislation. In the last weeks of session, Floridians have sent more than 28,000 letters to lawmakers expressing concern about their costs going up and urging opposition to SB 54.
“APCIA obtained actuarial assistance to assess the impact of SB 54 and our analysis shows it could increase the cost of the average auto insurance policy by as much as 23 percent or $344. Drivers who carry the lowest levels of coverage could see increases as high as $805 a year.
“By failing to deliver savings for drivers and potentially increasing auto insurance costs, this legislation could also lead to more uninsured drivers, making Florida’s roads less safe. Our state already has the unfortunate distinction of having one of the highest rates of uninsured motorists in the country at 20 percent.
“Additionally, SB 54 lacks any meaningful legal reforms to Florida’s bad faith laws, which are a primary source of lawsuit abuse and a key cost driver in the Florida auto insurance system. Without much needed legal reforms, SB 54 will only serve to fuel the current cycle of lawsuit abuse, clog our court system with more lawsuits, and worsen Florida’s legal environment.
“Given the financial burdens individuals, families, and businesses continue to face due to the COVID-19 pandemic, now is not the time to make major policy changes that affect every Florida driver and impose a tremendous financial burden on Floridians, especially those who can least afford it.
“APCIA urges Governor DeSantis to protect Florida drivers from higher auto insurance costs and keep our roads safer by vetoing SB 54.”
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.