The bill passed in the Florida House of Representatives by a vote of 84 to 33 on Dec. 14, 2022 after the Senate approved the legislation the day prior, according to the Florida Senate's website. The votes took place during a special session called by Governor Ron DeSantis in part to address the impact of Hurricane Ian on an insurance market that was already stumbling. (Credit: SeanPavonePhoto/Adobe Stock) The bill passed in the Florida House of Representatives by a vote of 84 to 33 on Dec. 14, 2022, after the Senate approved the legislation the day prior, according to the Florida Senate's website. The votes took place during a special session called by Governor Ron DeSantis in part to address the impact of Hurricane Ian on an insurance market that was already stumbling. (Credit: SeanPavonePhoto/Adobe Stock)

(Bloomberg) — Florida's legislature passed a bill that would create a state-backed reinsurance fund and attempt to ease litigation costs that have pushed a homeowners insurance market already contending with monstrous storms toward the brink.

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Litigation
Reinsurance
Regulation/Legislation