June 16, 2024

Insurance lawsuits declined last year. Are reforms working?

Lawsuits against top Florida property insurers declined overall between 2022 and 2023 and insurers say they would have declined even more if Hurricane Ian had not struck the state in September 2022.

Insurers say it’s a clear sign that the legislative reforms enacted in 2022 are starting to work even if premiums have not yet followed suit.

The South Florida Sun Sentinel analyzed data from a state website that records lawsuits served to insurance companies, including those that sell property and casualty, auto and health coverage.

The analysis omitted data from Florida-based property insurers that are also licensed to sell auto insurance because there is no simple way to identify which lawsuits in the database are auto- or property-related.

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