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Too Little, Too Late? Breaking Down Florida’s Latest Property Insurance Reforms A bill passed by the Florida Legislature to address the state’s property insurance crisis has created optimism among some stakeholders, while others say it will not reduce rates over the next 18 to 24 months or stop the state’s out-of-control claims litigation. This year’s effort to pass property insurance reforms came down to the wire with the passage of Senate Bill 76 on the last day of session. The bill attempts to solve some of the issues plaguing the state’s homeowners insurance market in which insurers lost more than $1.5 billion last year. Consumers are facing double-digit rate increases, restricted coverage, or having to turn to the state’s insurer of last resort, Citizens Property Insurance.

United statesKyle ulrichDevin galettaDemotech petrelliDavid altmaierJim boydJoseph petrelliJeff brandesLocke burtRobert ritchieFlorida department of financial servicesFlorida office of insurance regulationFlorida legislatureFlorida department of professional regulationNational association of insurance commissionersCitizens property insurance corp