Achieving economic equilibrium in the property insurance marketplace
Even though we provided the insurance industry with
From 2009 until 2015, we had a prosperous insurance market because major hurricane activity was limited. Leaders of
The partisan bill focuses on making
I believe we can reach a place of economic equilibrium longer term here in
The one part of the bill that made it difficult to support was discontinuation of consumer legal representation that the insurance company could pay for if the legal representation won the claimant's case by more than 50% above the pre-suit settlement amount. During the previous session, Senate Bill 76 was very helpful in mitigating unnecessary lawsuits. Since its passage, we have seen a 30% decrease in litigation surrounding claims. I believe de-incentivizing litigation that does not bring beneficial consumer support for legitimate claims, helps make insurance more affordable. We should have laws like Senate Bill 76 that prevent an attorney from taking a case with
The new bill that passed on
For example, if your wind damage caused
Another component of the bill I could not support was the requirement of all
We will go into the 2023 session filing bills and amendments to continue to work on the property insurance market instability with bipartisan efforts. Even though we provided the insurance industry with
Gallop Franklin II is a member of the
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Gallop Franklin II
Guest columnist
Even though we provided the insurance industry with
Lawmakers must keep in place prior authorization safeguards
Henry Schein Acquires Majority Interest in Unitas PPO Solutions
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