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Deregulation of the commercial lines business began in earnest during 1998 and 1999, and nearly half of the states now have statutes that allow deregulation as to rate and/or form. In its broadest sense, deregulation is considered to foster a more competitive market environment leading to lower rates combined with products that can be tailored to meet the needs of insureds.

Florida’s entry into deregulation began under Gov. Charlie Crist during 2010 with the passage of SB 2176. This bill deregulated what have been referred to as “more sophisticated” lines of business, including excess/umbrella, D&O, intellectual property, patent infringement, and property risks rated under highly protected risk rating plans. Commercial auto was also included, but was limited to fleets exceeding 20 vehicles. 

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