The Florida Justice Reform Institute announced that Florida has attracted 11 new insurers in the past month, crediting the 2023 tort reforms and Governor Ron DeSantis’s leadership for this achievement. The announcement was made on X on February 19.
According to the Florida Insurance Commissioner Mike Yaworsky, in January 2025, over 10 property and casualty insurers were approved to enter the state’s market. This move is attributed to historic legislative reforms aimed at stabilizing Florida’s insurance industry.
The number of insurance-related lawsuits in Florida peaked at 63,000 in 2021 but fell by 24% between the third quarter of 2023 and 2024. Earlier this year, the Office of Insurance Regulation reported that out of 18 rate filing requests, 10 called for no premium increases, and eight requested lower premiums.
The Florida Justice Reform Institute (FJRI), established in 2005, is a leading advocate for tort reform in the state. Based in Tallahassee, FJRI works to restore fairness and predictability to Florida’s civil justice system by promoting legislative changes that reduce frivolous lawsuits and excessive litigation costs, as per their website.
