Paul Renner, former Speaker of the Florida House, said that following 2023 reforms to curb litigation abuse, insurers have responded with rate cuts—benefiting consumers in a long-challenged system.
“rates are finally declining in Florida,” said Renner. “This is not a fluke. Our legal system was broken, incentivizing trial lawyers and bad faith actors to game the system. The Legislature changed the incentives, insurers responded and consumers are now the winners.”
Industry and state regulatory data reveal that in 2019, Florida accounted for approximately 8% of the nation’s homeowners insurance claims but generated more than three-quarters of all related lawsuits. The Insurance Information Institute attributes this imbalance to attorney fee structures and legal loopholes. Lawmakers say addressing this pattern through 2023 reforms has been crucial for improving insurance affordability for residents.
According to data from the Florida Office of Insurance Regulation (FLOIR), Florida’s personal auto incurred loss ratio fell to 57.5% in 2024, down from 73.2% in 2023 and nearly 90% in 2022. The auto liability segment showed similar improvements, decreasing to 53.3% from 80.5% in 2022. State officials attribute these shifts to reduced litigation costs and stronger claims discipline after reforms, which improved insurers’ financial stability and paved the way for rate cuts.
The Florida Office of Insurance Regulation reports that over 30 auto insurers submitted 46 filings in 2024 requesting premium decreases, with reductions ranging from modest cuts to over 10%. Major carriers credited the 2023 legal changes—including stricter lawsuit filing standards—for making the market more predictable, reducing costs, and enabling competitive rate offerings for consumers.
According to the Bureau of Labor Statistics, motor vehicle insurance costs grew by 6.1% nationwide in the year ending July 2025, making it one of the top drivers of core inflation. This positions Florida as an exception since it is one of the few states recording overall decreases in premiums during the same period—a change officials directly link to the 2023 reforms.
Renner served as Speaker of the Florida House from 2022 to 2024, representing the Palm Coast region and was known for advancing policies aimed at curbing litigation abuse in insurance markets.
