Florida's Insurance Reforms Under Threat from New Legislation

Florida has recently implemented substantial reforms aimed at reducing abusive lawsuits and stabilizing the insurance market, resulting in lowered costs for families. This progress is now threatened by a new bill, HB 947, which seeks to reverse these successful changes. Previously, excessive litigation drove up insurance prices, forcing businesses to increase costs passed on to consumers.

Under the leadership of Governor Ron DeSantis, Florida enacted comprehensive tort reforms that significantly improved the state's insurance landscape. These reforms included limits on aggressive legal tactics and consumer protections, leading to notable reductions in auto insurance rates. However, the introduction of HB 947 could undo these reforms and negatively impact Floridians by reinstating a system of inflated medical expenses and higher living costs.

The concern is that the passage of this bill would return Florida to a situation where trial lawyers exploit the legal system for profit, ultimately harming consumers. With neighboring states like Georgia enacting similar reforms, Florida must not regress into outdated and costly practices that endanger the economic well-being of its residents.