Saving the Florida home insurance market will take more than legislation

In Florida, state-run insurer Citizens directly competes with the private insurance market and is the largest carrier in the state. (Photo: bilanol/Adobe Stock)

Florida Governor Ron DeSantis and the state’s lawmakers recently proposed comprehensive litigation reform in the hopes of resuscitating the long-troubled Florida insurance market. On the heels of SB 2-A that eliminated one-way attorney fees and assignment of benefits for all property insurance claims, the new proposal seeks to eradicate one-way attorney fees for all lines of insurance and attorney multipliers that incentivize frivolous lawsuits. The effort aims to restore business conditions in an infamously unfriendly insurance environment.

But will it work?