Trends and Insights: Florida Reforms Bear Fruit as Premium Rates Stabilize

Florida’s legislative reforms to address claim fraud and legal system abuse are stabilizing the state’s property/casualty insurance market. Claims-related litigation has significantly declined over the past two years, and premium averages are nearly flat, with several insurers requesting rate decreases from the state’s insurance regulator.

In addition, the number of insurers writing business in the state has rebounded after a multi-year exodus. This competition from the private market has allowed policyholders to leave Citizens Property Insurance Corp. – the state-run insurer of last resort – to obtain coverage at previously unavailable rates from a much healthier private market.

(As of March 4, 2025)

Media Folder: 

Images

Click here to download full version of Trends and Insights: Trends and Insights: Florida Reforms Bear Fruit as Premium Rates Stabilize.

Previous Trends and Insights

Trends and Insights: Attacking Florida’s Property/Casualty Risk Crisis (05/08/2024)

Addressing Florida’s Property/Casualty Insurance Crisis (2/15/2023)

Florida homeowners’ insurance crisis (8/08/2022)