Close Menu
BestNewsOnline
    Facebook X (Twitter) Instagram
    BestNewsOnline
    • Retirement planning
    • Insurance
    • Real estate
    • Subscription
    BestNewsOnline
    Home»Insurance»APCIA Applauds Florida Legislature for Resolving Property Insurance Crisis and Encourages Governor DeSantis to Quickly Sign Legislation for Florida Homeowners
    Insurance

    APCIA Applauds Florida Legislature for Resolving Property Insurance Crisis and Encourages Governor DeSantis to Quickly Sign Legislation for Florida Homeowners

    December 15, 20222 Mins Read
    WhatsApp Facebook Telegram

    TALLAHASSEE, Florida, December 15 (TNStalk) — The American Property and Casualty Insurance Association issued the following statement on December 14, 2022:

    * * *

    The American Property and Casualty Insurance Association (APCIA) today issued the following statement, attributed to its Vice President of State Government Relations Logan McFaddinregarding the passage of Senate Bill 2A (Home Insurance) speak Florida Legislature.

    “Governor DeSantis and Florida Legislators continue to show considerable leadership in resolving the crisis in our state’s property insurance market. Rampant abuses of the legal system have skyrocketed insurance costs and weighed down Florida families, and we commend lawmakers for tackling this issue head-on to help stabilize the market.

    “The Abuse of the Judicial System in Florida was prompted by the state’s one-sided attorneys’ fees law, which line the pockets of billboard attorneys at the expense of consumers. A recent study found that insurers pay $15.3 billion for insurance claims Florida from 2013 to 2020, of which 71% funded plaintiffs’ attorney fees, 21% represented defense costs and only 8% went to policyholders.

    “Senate Bill 2A puts Florida consumers first by eliminating the state’s one-way attorney fee law, which will help reduce the number of abusive lawsuits pending in Florida on property insurance claims and help reduce long-term property insurance costs.

    “This legislation takes significant steps to build on the helpful reforms passed by the legislature and enacted by Governor DeSantis earlier this year. Although it will take time for the market to improve, we hope the reforms will help stabilize florida property insurance market to provide more options and lower long-term costs. We look forward to the governor moving quickly to enact this important bill.”

    * * *

    Original text here: https://www.apci.org/media/news-releases/release/73977/

    Add A Comment
    Leave A Reply Cancel Reply

    What's hot

    New retirees are at a much higher risk of running out of money

    October 29, 2022

    🌱Highway 4 Deadly Collision + Concord Tree Lighting and Sing-Along

    November 16, 2022

    Hochul urges DFS to expedite insurance claims resulting from snowstorm

    November 22, 2022

    A deep dive into the Cut Inflation Act and what it means for the future of health care – InsuranceNewsNet

    December 3, 2022
    Don't miss

    Minnesota real estate market cools, but buyers continue to face challenges

    November 12, 2022

    Real estate report 2022 | Brownwood News

    January 9, 2023

    Apollo Commercial Real Estate Finance, Inc. Declares Quarterly Common Stock Dividend

    December 13, 2022
    Picked for you

    LACERA invites tenders for the system’s emerging real asset management program

    Retirement planning February 2, 2023

    The Los Angeles County Employees Retirement Association invites proposals from qualified companies to implement the…

    BestNewsOnline.net is owned and managed by

    Top10 International FZ LLE
    Office 2002, 20th Floor, Creative Tower
    Fujairah, United Arab Emirates
    TRN: 100608946800003

    • Home
    • Contact us
    • Privacy policy
    • Terms and services

    Type above and press Enter to search. Press Esc to cancel.