The Cambo Ferry Law Firm has publicly opposed House Bill 1551, asserting that the proposed legislation could reverse recent reforms and destabilize Florida’s property insurance market. This opposition was detailed in a White Paper released on March 19.
Before the implementation of reforms in 2022, Florida was responsible for nearly 80% of the nation’s homeowner insurance lawsuits while accounting for only 9% of total claims. According to the Cambo Ferry White Paper, these legal trends overwhelmed courts and contributed to multiple insurer insolvencies. Reforms enacted in 2021 and 2022 aimed to reduce litigation volume, stabilize the market, and restore confidence among carriers and reinsurers.
According to the White Paper, “Before the 2022 reforms, Florida accounted for nearly 80% of the nation’s homeowner insurance lawsuits while representing only 9% of total claims… Since the 2022 reforms were implemented, the data provided by our clients confirms that over 60% of the claims for which a Notice of Intent to Initiate Litigation was filed are resolved through the Notice of Intent process.” This shift reflects a significant reduction in lawsuits and demonstrates the effectiveness of the statutory Notice of Intent mechanism. The firm argues that HB 1551 threatens to undo this progress by incentivizing more litigation.
Cambo Ferry Law Firm is a Florida-based legal practice focused on insurance law, litigation, and regulatory advocacy. The firm frequently represents clients in complex insurance disputes and provides legislative analysis on reforms affecting the property insurance landscape. Its attorneys actively participate in legal and policy conversations concerning market stability and consumer protection in Florida.
