Americans for Tax Reform announced that Florida’s 2023 tort and insurance reforms have reduced certain lawsuits and helped stabilize the state’s property insurance market, pointing to new insurer participation and rate filings showing slower growth or decreases.
The organization said these changes matter because they address what it described as an earlier crisis in Florida’s insurance sector, which had seen high rates of litigation and insurer departures. According to Americans for Tax Reform, Florida faced an insurance crisis before the 2023 reforms, with the state accounting for 76% of nationwide homeowners’ lawsuits in 2019 and 99% of State Farm’s auto glass repair claims, despite representing only 6.5% of the U.S. population. The organization said the reforms addressed excessive litigation and insurer departures, with Citizens Property Insurance Corp. expanding as private-market options declined. Post-reform improvements include fewer auto glass repair lawsuits and stronger industry profitability. These developments reflect a shift toward greater stability in the market.
The Florida Office of Insurance Regulation reported that property insurance rate filings in 2024 showed a downward trend for the first time in several years. Ten companies requested no rate increases, while at least eight requested reductions. The office said this trend reflects continued stabilization and strengthening of the property and casualty market following legislative reforms. As reported by the Florida Office of Insurance Regulation, these trends are linked to recent legislative actions.
Data from the Florida Office of Insurance Regulation indicate that Citizens Property Insurance Corp. policyholders will see an average premium reduction of 8.7% beginning in spring 2026 at renewal. More than 330,000 policyholders across the state are expected to receive decreases, including over 150,000 with reductions of 10% or more. Officials said these changes reflect ongoing stabilization of the Florida insurance market according to data from state officials.
Americans for Tax Reform is a nonprofit organization that works to limit the size and scope of government, lower taxes at all levels, and oppose increases in government spending. It advocates for pro-growth policies including tax cuts and regulatory relief. The group supports free-market principles and has influenced policy on fiscal issues for decades, according to its official website.
