The Florida House of Representatives voted Wednesday overwhelmingly in favor of House Bill 7071, sponsored by Rep. Mike Beltran, to limit exorbitant attorney fees on property insurance lawsuits.
In a new sign of problems in Florida’s property-insurance industry, tens of thousands of homeowners will be shifted to a different insurer this spring because of a company’s financial troubles.
Florida homeowners had better watch their wallets in 2020 — and ask their insurance agents to shop for cheaper deals.
A Florida insurance executive said his company needs to increase homeowner insurance premiums by 28.1 percent to maintain the company’s top financial rating.
Estimates show homeowners’ property insurance rates could climb tenfold over the next 10 years.
The House Judiciary Committee approved a bill that would limit fees awarded to lawyers in property insurance cases, matching a similar measure moving through the Senate.
Armed with new data pointing to how out-of-control civil litigation affects the Florida economy, business leaders launched a push for tort reform measures they say will reduce the “tort tax” residents pay.
Floridians for Lawsuit Reform launched a website Tuesday, FLTortReform.com, to raise awareness on the need for lawsuit reform in the state.