Florida Governor Signs Property Insurance Reform Bill

On December 16, 2022, Florida Governor Ron DeSantis signed a sweeping property insurance reform bill aimed at shoring up the property insurance market in Florida. Florida’s property insurance market is massively impacted by mass casualty events like hurricanes, dating back to 1992 when Hurricane Andrew caused widespread losses and wiped out several companies. The bill aims to disincentivize litigation over property losses by forcing more policyholders to purchase private insurance and to encourage more efficient responses during claims handling by insurers. 

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