Floridians for Lawsuit Reform has announced that Florida's property insurance market is stabilizing, attributing this development to increased competition, private capital influx, and reinsurance pricing improvements driven by lawsuit reform. This announcement was shared on the social media platform X.
According to Floridians for Lawsuit Reform’s post on X, "Florida’s property insurance market is stabilizing after years of crisis," as demonstrated by Citizens Property Insurance Corp. reducing its policy count from a peak of 1.41 million to under 778,000. The group highlights this as a shift toward a healthier and more competitive marketplace. They emphasize that reinsurance pricing, which had previously escalated, is now stabilizing and that the return of private capital is encouraging more insurers to re-enter the Florida market. However, they caution that while these improvements reflect positive impacts from reforms aimed at reducing lawsuit abuse, the gains are still early and could reverse if reforms are undone.
As reported by Axios, Citizens Property Insurance experienced a significant reduction in policy counts in the Tampa Bay area—from 299,882 down to 211,964 by May 31, 2025—a 30% decrease over the past year. Axios notes that Citizens attributes this decline to improved market conditions and legislative reforms that have restored lower-cost private insurance options. This has allowed many homeowners to find comparable or even lower premiums from private carriers. The report underscores how this depopulation effort results directly from reform measures that curtailed excessive litigation and bolstered the private insurance market.
According to an article in Barron’s, Florida homeowners might see lower insurance premiums due to these reforms. The state’s insurance regulator approved a smaller rate increase than requested and ordered Citizens to decrease rates for about 20% of its customers—particularly in South Florida counties like Miami-Dade, Broward, and Palm Beach—where reductions ranged from 4.5% to 6.3%. The article also cites that Citizens has successfully offloaded about 20% of its January 2024 policy count, attributing the market improvement and slowing premiums to tort reforms that have reduced litigation costs and encouraged private-sector entry.
Floridians for Lawsuit Reform is a 501(c)(4) advocacy organization dedicated to combating lawsuit abuse and promoting fair civil justice policies in Florida. According to the group’s LinkedIn page, it was formed by Florida residents to raise awareness of systemic legal abuses and push for reforms protecting both consumers and the property insurance market. Through education, grassroots engagement, and legislative advocacy, the organization works to stabilize markets by curbing costly litigation practices.