Paul Renner, former Speaker of the Florida House of Representatives, said that Florida's insurance reforms are curbing lawsuit abuse, lowering premiums, and restoring market stability. This statement was made in an op-ed.
"Trial lawyers are trying to turn back the clock on meaningful reform," said Renner. "Our changes are working. Rates are beginning to fall. More insurers are entering the market. The public knows the truth — that lawsuit abuse drove their rates through the roof. We ended the loopholes. Now the market is beginning to stabilize."
According to the Wall Street Journal (WSJ), Florida’s 2022–2023 insurance reforms curtailed litigation abuse by eliminating one-way attorney fees and restricting assignment of benefits, measures that had incentivized excessive lawsuits. Trial lawyers opposed these changes, arguing they limited consumer rights, but proponents highlighted the reforms' role in reducing frivolous claims and stabilizing the insurance market. These legislative actions have been credited with attracting new insurers and lowering premiums for homeowners.
As reported by the Florida Office of Insurance Regulation (FLOIR), the enactment of Florida's insurance reforms has approved 12 new property and casualty insurers, including reciprocal exchanges, to enter the market. These companies bring over $418 million in policyholder surplus, enhancing market competition and capacity. Additionally, nearly 100 residential rate filings have been submitted, with 19 companies proposing rate decreases and 37 requesting no change, indicating a trend toward premium stabilization.
According to FLOIR, in 2023, Florida insurers paid approximately $3.46 billion in direct defense and containment costs, encompassing legal fees and related expenses. This figure underscores the significant financial impact of litigation on the insurance industry. The recent reforms aim to reduce such costs, thereby contributing to the stabilization of the insurance market and potential premium reductions for policyholders.
Renner is currently Of Counsel for Nelson Mullins and was appointed to the Board of Governors of the State University System effective April 15, 2025. He is a veteran of the United States Navy and began his legal career as a state prosecutor. Renner earned his bachelor’s degree in history from Davidson College and his juris doctor from the University of Florida.