Personal Insurance Federation of Florida Cheers Passage of SB 1728
The Florida Senate Appropriations Committee this afternoon passed Senate Bill 1728, sponsored by Sen. Jim Boyd (R-Bradenton), which aims to help Florida’s troubled property insurance market.
Personal Insurance Federation of Florida (PIFF) members support efforts that continue to reign in property claims costs from abusive litigation, largely driven by a cottage industry of unscrupulous roofers and other vendors as well as a coterie of trial lawyers who profit from questionable lawsuits.
Michael Carlson, president and CEO of PIFF, praised efforts by lawmakers for their work to continue reforms:
“We’re grateful to the Florida Senate Appropriations Committee and to Senator Boyd for focusing on needed solutions to right the ship that is Florida’s ailing property insurance market.
“Property rates are rising by double digits, insurers are withdrawing from parts of the Florida market, and Citizens Property Insurance Corporation continues to grow at a dramatic pace. These are troubling times for consumers, who have fewer options for insurance and are paying more. The single greatest driver of these costs continues to be unnecessary litigation.
“The Florida House and Senate did yeoman’s work last year passing landmark legislation in Senate Bill 76 — it helped make positive changes. We applaud lawmakers for looking at additional ideas to help a market still in crisis in order to keep pace with swindlers abusing loopholes at the expense of all Floridians.”
Companion legislation to Senate Bill 1728 has been filed as House Bill 1307, sponsored by Rep. Tommy Gregory (R-Sarasota), and Rep. Mike Giallombardo (R-Cape Coral).
To learn more about the process of how roof repair scams occur and how they impact rates for consumers, view PIFF’s new infographic online.
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 premium in the state. PIFF advocates for a healthy and competitive insurance marketplace for the benefit of Florida consumers. Follow us @PIFFNews. Visit PIFF.net to learn more.