Jimmy Patronis, Florida’s State Fire Marshal and Chief Financial Officer (CFO), stated in a June 5 video that due to litigation reforms led by State Representative Tom Leek, coupled with Florida’s hurricane preparedness program, insurance prices in the state are beginning to drop.
"This market has been a challenge over the last couple years," said Patronis. "It's affected everyone, my household included, but I want to tell you there's a light at the end of this tunnel with the combination of the My Safe Florida Home program, the litigation reforms we've had, we're seeing downturns in the rates that are taking place in the state of Florida. Where we were seeing double-digit increases over the last couple years, this year we're seeing carriers asking for no rate increase or dropping their rates. Again, a special shoutout to my good friend Tom Leek - none of this would've been possible if it wasn't for his leadership."
The My Safe Florida Home program allocates grant funding for home strengthening improvements to protect homes from hurricanes. According to the program’s website, participants can potentially lower their home insurance premiums through this initiative. Home strengthening improvements provided through the program include roof covering upgrades, door and window upgrades, and roof-to-wall connection reinforcement.
Leek spearheaded a litigation reform measure aiming to improve the state’s insurance market by eliminating one-way attorney fees and barring property owners from assigning benefits to third parties, according to the Florida Bar. State Senator Jim Boyd introduced the Senate’s companion version. Boyd said the reforms would establish "reasonable guard rails for insurance companies against frivolous litigation and fraudulent claims that drive up rates for everybody."
Leek, who is now running for State Senate, has drawn criticism from major trial attorney John Morgan. The Floridian reported that Morgan, an Orlando-based lawyer known as "pot daddy" due to his support for legalizing marijuana, claimed Leek’s campaign attacked him with an ad referencing "Democrat lovin', personal injury billboard lawyers." Morgan responded to the ad with several expletive-laden posts on X, including one stating, "You kicked the wrong f#&%$*! dog for no f#&%$*! reason. This dog bites." A spokesperson for Leek said the ad about "billboard lawyers" did not mention John Morgan or any of his associates.
According to a press release from Florida’s Office of Insurance Regulation (OIR), property insurance rate filings for 2024 are experiencing a downward trend for the first time in years. OIR attributed the insurance market’s stabilization to "historic legislative reforms" of recent years. Signs of the strengthening market include ten companies filing for zero percent rate increases, another eight companies filing rate decreases set to take effect this year, and eight new companies being approved to enter the state’s homeowner’s insurance market.
Patronis previously served as a member of the Florida Elections Commission and as a State Representative from 2006 to 2014. As CFO, Patronis oversees the licensing of insurance agents and agencies.