Florida News Straight From the Source
Subtropical Storm Nicole is forecast to impact Florida’s southeast and eastern coast this week as a strong tropical storm and potentially a Category 1 hurricane. [Read more…] about APCIA Offers Insurance Tips as Florida Residents along the East Coast Prepare for Potential Hurricane
As Floridians impacted by Hurricane Ian begin to recover, repair, and rebuild, the American Property Casualty Insurance Association (APCIA) is warning consumers about the threat of third parties, including some public adjusters, that prey on the insurance claims process for their own financial gain. [Read more…] about APCIA Urges Floridians Impacted by Hurricane Ian to Be Informed, Beware of Third Parties Seeking Post-Storm Financial Gain
The American Property Casualty Insurance Association (APCIA) today issued the following statement attributed to its vice president of state government relations Logan McFaddin regarding the failure of Senate Bill 1728 to pass during the 2022 Florida Legislative Session. [Read more…] about Florida Policyholders Likely to Suffer the Most as Property Insurance Reforms Fail to Pass in Final Days of Session
The American Property Casualty Insurance Association (APCIA) today issued the following statement attributed to its vice president of state government relations Logan McFaddin regarding the passage of Senate Bill 1728, sponsored by Senator Jim Boyd, by the Florida Senate Committee on Appropriations. [Read more…] about APCIA Applauds Florida Senate Appropriations Committee for Advancing SB 1728 to the Floor
The American Property Casualty Insurance Association (APCIA) today issued the following statement attributed to its vice president of state government relations Logan McFaddin regarding the passage of Senate Bill 1728, sponsored by Senator Jim Boyd, by the Florida Senate Appropriations Subcommittee on Agriculture, Environment, and General Government. [Read more…] about APCIA Supports Senate Bill 1728 to Help Address Florida’s Property Insurance Crisis
The American Property Casualty Insurance Association (APCIA) today highlighted an independent analysis conducted by Pinnacle Resources of this year’s proposals to repeal Florida’s no-fault auto insurance system (Senate Bill 150 and House Bill 1525) that could increase auto insurance costs between 48 and 77 percent for Florida drivers. [Read more…] about APCIA: PIP Repeal Legislation Could Increase Auto Insurance Costs by up to 77% for Florida Drivers
The American Property Casualty Insurance Association (APCIA) today outlined its top priorities for the 2022 Legislative Session, which include: working with lawmakers to build upon the 2021 reforms to help stabilize Florida’s ailing property insurance market and protect consumers from rising home insurance costs; supporting meaningful legal reforms to rein in widespread lawsuit abuse; and ensuring any legislation to repeal or reform Florida’s no-fault auto insurance system leads to consumer cost savings. Additionally, APCIA will work with the business community to address data security and privacy issues.
“As APCIA works with lawmakers this session on a variety of policy issues, a key focus area is on the long-term health and sustainability of Florida’s property insurance market and protecting consumers from rising costs,” said Logan McFaddin, assistant vice president of state government relations for APCIA. “Lawsuit abuse is a major cost driver in the home and auto insurance market and more reforms are needed to rein in frivolous litigation.”
Property Insurance Market Reforms
Florida homeowners are facing skyrocketing property insurance costs as the market continues to buckle under pressure from a mountain of litigation and billions in recent losses from natural disasters. Recent data from the Florida Office of Insurance Regulation shows that Florida accounted for 8 percent of all homeowners’ insurance claims in the U.S., but 76 percent of all homeowners’ insurance lawsuits in the country.
“Florida lawmakers passed, and Governor DeSantis signed into law beneficial reforms in 2021 to help alleviate some key pressure points in Florida’s property insurance market, but more work needs to be done to address a crisis of this magnitude,” continued McFaddin.
Florida’s No-Fault Auto Insurance System
APCIA will work with lawmakers to ensure any legislation to repeal or reform Florida’s no-fault auto insurance system provides the necessary cost control measures and safeguards to prevent rampant fraud and increased lawsuit abuse – two key cost drivers in the Florida auto insurance market. Productive and meaningful changes to the no-fault system must include reforms to Florida’s bad faith laws that will help lower auto insurance costs for consumers.
“Any attempt to eliminate or reform Florida’s no-fault auto insurance system must result in cost-savings for drivers,” said McFaddin. “Repealing Florida’s no-fault auto insurance system without addressing much needed bad faith reforms could lead to higher costs and increased litigation.”
Data Security & Privacy
Another key priority for APCIA and the business community is data security and privacy. The Florida Legislature is likely to consider legislation on whether consumers can opt-out of companies selling their personal data and if they can sue companies over any violation of the law.
“While APCIA is supportive of consumer rights online, it is important for lawmakers to find the right balance as they consider new regulations for business so there are not unintended consequences that lead to increased costs for consumers,” added McFaddin.
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.
Hurricane Elsa, the earliest forming fifth named Atlantic storm on record, may impact Florida as early as Monday or Tuesday. [Read more…] about As Hurricane Elsa Eyes Florida, Residents Need to Prepare Now
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 Florida Governor Ron DeSantis vetoing Senate Bill 54, relating to Motor Vehicle Insurance. [Read more…] about APCIA Thanks and Applauds Governor DeSantis for Vetoing Senate Bill 54, Protecting Florida Drivers from Increased Auto Insurance Costs
The Florida Legislature today transmitted Senate Bill 54, which would repeal Florida’s existing personal injury protection “no-fault” auto insurance system without needed legal reforms, to Florida Governor Ron DeSantis for his consideration. [Read more…] about Legislation to Repeal No-Fault Auto Insurance System Goes to Governor; Floridians Have Sent Almost 37,000 Letters Urging Veto
