Mike Caruso, the state representative for Florida's District 87, expressed opposition to HB 1551, stating it would reverse the progress achieved through tort reforms in Florida. He made this comment in a post on X on March 26.
"Seems counterintuitive to team up with the trial attorneys to roll back the tort reform we passed in 2022 and 2023—the same reforms that helped stop skyrocketing property insurance costs," said Caruso, State Representative (FL-87, Palm Beach County). "I am against HB 1551—a bill that, according to its own analysis, will raise insurance costs on Floridians."
According to Florida State Representatives Hillary Cassel and Paula Stark, HB 1551 aims to establish a "loser pays" standard for attorney’s fees in insurance lawsuits, intended to level the playing field for policyholders. The bill passed the House Insurance and Banking Subcommittee with a 15-1 vote, with Caruso as the sole dissenter. Caruso argued that the bill could lead to increased costs for consumers rather than reducing premiums. He also referenced Governor Ron DeSantis’ recent announcement that previous insurance reforms have stabilized the market and attracted insurers. The Personal Insurance Federation of Florida and the Florida Chamber of Commerce have said that HB 1551 could reignite excessive litigation and drive up premiums.
March 24 marked two years since Governor DeSantis signed Florida's tort reform law, HB 837. This legislation aimed to address excessive litigation that had driven up homeowners’ insurance rates and led to insurer failures. Before these reforms, Florida accounted for only 8% of the nation’s homeowners’ insurance claims but a disproportionately high share of lawsuits. Supporters credit HB 837 with reducing frivolous lawsuits and helping stabilize the insurance market.
On February 5, Governor DeSantis issued a press release announcing significant improvements in Florida's insurance market. Major auto insurers such as GEICO, Progressive, and State Farm have filed for rate reductions of 10.5%, 8.1%, and 6%, respectively. Additionally, Citizens Property Insurance is implementing statewide premium decreases averaging 5.6%, benefiting approximately 75% of homeowners in Miami-Dade County. Over the past two years, eleven new insurance companies have entered the Florida market, contributing to increased competition and greater market stability.
Florida Insurance Commissioner Mike Yaworsky highlighted achievements by the Florida Office of Insurance Regulation (OIR) in a January press release. Yaworsky said that thanks to reforms championed by Governor DeSantis, Florida’s insurance industry is improving significantly. The agency has made substantial progress in stabilizing the property insurance market and strengthening the state’s health insurance sector. Reforms designed to protect consumers and improve market conditions have delivered tangible results. OIR has worked to ensure greater industry accountability and resilience against future challenges.
Caruso is a Certified Public Accountant (CPA) and entrepreneur who earned a degree in Business Administration from George Washington University before founding his own accounting firm in Palm Beach County. Over three decades, he has been involved in community service on numerous boards, acting as a forensic accounting expert, and managing various residential and commercial properties within District 89.