ACI Applauds Proposed Reforms To Florida’s Insurance Market

The Following is a Statement from ACI’s Policy Manager and Editor Edward Longe:

“ACI praises the Florida Senate Judiciary Committee for advancing two bills that will provide much-needed reform to Florida’s insurance market. The State’s insurance market is currently facing a dual crisis of catastrophic storms and insurance fraud that are making policies unaffordable for many Floridian’s.

SB 76 (Residential Property Insurance) would prevent attorneys from demanding excessive fee multipliers, while SB 846 (Medical Expenses) allows jurors to see the usual and customary rate for medical services in addition to the amount billed to patients. When considered together, these bills will make it harder for unscrupulous actors to exploit insurance companies, leading to lower premiums for consumers.

When the country is facing significant economic uncertainty, the Florida legislature should prioritize passing bills that reform the State’s insurance market to protect consumers from unaffordable policy premiums.  Advancing SB 76 and SB 846 are essential steps in the right direction.”

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