APCIA Lists Priorities For Florida’s Insurance Industry
The American Property Casualty Insurance Association has unveiled its legislative priorities for the 2022 Session.
The industry advocates want to see steps to stabilize the insurance market and control rising rates. The group said that can be helped with limits on lawsuits, stopping abuse and keeping consumer costs a priority in any consideration of repealing no-fault insurance.
‘As APCIA works with lawmakers this Session on a variety of policy issues, a key focus area is on the long-term health and sustainability of Florida’s property insurance market and protecting consumers from rising costs,’ said Logan McFaddin, assistant vice president of state government relations for APCIA.
‘Lawsuit abuse is a major cost driver in the home and auto insurance market, and more reforms are needed to rein in frivolous litigation.’
While Florida accounts for 8% of all homeowners insurance claims, the state is home to 76% of insurance lawsuits.