Floridians for Lawsuit Reform announced that Florida's tort reforms are improving the homeowners' insurance market by reducing litigation and strengthening financial stability. The organization warned that reversing these reforms could lead to significant rate increases.
According to the Florida Office of Insurance Regulation’s January 2024 Residential Property Claims and Litigation Report, Florida accounted for 14.9% of nationwide homeowners’ insurance claims but nearly 71% of all property-insurance lawsuits in 2022. This indicates a severe litigation imbalance. The agency said that these lawsuits, heavily concentrated in homeowners’ claims, contributed to rapid rate hikes and insurer withdrawals before the reforms. The Office reported that reforms enacted in 2022 and 2023—including limits on attorney fees and assignment-of-benefits—have begun reducing litigation volume and improving claim closure rates in the homeowners’ sector.
A report by the R Street Institute in 2024 found that Florida’s share of nationwide homeowners’ insurance lawsuits fell from 79.9% in 2018 to 71.5% in 2023, demonstrating early measurable effects of litigation reform. According to R Street, declining lawsuit frequency in homeowners’ insurance has improved underwriting conditions and attracted new insurer entrants to the market. The report concluded that Florida’s reforms "represent the most significant improvement in property-insurance litigation outcomes in a generation."
Florida Statute §629.011 defines "reciprocal insurance" as an interexchange of indemnity among subscribers managed by an attorney-in-fact, creating a mutual model where policyholders collectively share risk and returns. According to the Florida Office of Insurance Regulation, reciprocal insurers such as newly chartered property exchanges have been approved since 2023, signaling renewed confidence in the state’s homeowners’ insurance market. Regulatory officials noted that reciprocal structures promote accountability and capital efficiency, aligning incentives between policyholders and insurers in a post-reform environment.
According to its official website, Floridians for Lawsuit Reform is a nonprofit advocacy group dedicated to promoting fairness and balance within Florida’s civil justice system. The organization campaigns for legislative and regulatory changes that reduce lawsuit abuse, lower homeowners’ insurance costs, and foster economic stability. It works closely with policymakers, regulators, and public stakeholders to sustain reforms that keep Florida’s homeowners’ market stable and competitive.