American Property Casualty Insurance Association Supports Senate Bill 1728 to Help Address Florida's Property Insurance Crisis

TALLAHASSEE, Florida, Feb. 17 (TNSPol) -- The American Property Casualty Insurance Association issued the following statement on Feb. 16, 2022:

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The American Property Casualty Insurance Association (APCIA) today issued the following statement attributed to its vice president of state government relations Logan McFaddin regarding the passage of Senate Bill 1728, sponsored by Senator Jim Boyd, by the Florida Senate Appropriations Subcommittee on Agriculture, Environment, and General Government.

"APCIA supports Senate Bill 1728 as it builds upon the positive reforms legislators passed last year to help address some of the key cost drivers in Florida's property insurance market, such as unscrupulous roofing solicitations.

"While SB 1728 moves the needle further in the right direction, Florida's property insurance market will continue to struggle until the legislature addresses the rampant lawsuit abuse taking place in the market. The Florida Office of Insurance Regulation reports that Florida accounted for 8 percent of homeowners claims in the U.S., but 76 percent of all homeowners' insurance lawsuits in the country.

"APCIA appreciates the continued leadership of Senator Jim Boyd as he pushes forward legislation to help bring stability to Florida's struggling property insurance market and ultimately help lower costs for consumers."