American Property Casualty Insurance Association Thanks Governor DeSantis, Legislature for Putting Floridians First With Critical Property Insurance Reforms

CHICAGO, Illinois, May 30 (TNSpol) -- The American Property Casualty Insurance Association issued the following news release:

"APCIA thanks Governor Ron DeSantis, Senate President Wilton Simpson, House Speaker Chris Sprowls, Senator Jim Boyd, and Representative Jay Trumbull for their leadership and commitment to finding solutions to Florida's property insurance crisis that put Floridians first. Their efforts to address the rampant lawsuit abuse that has crippled Florida's insurance marketplace, as well as implement reforms to help prevent another tragedy like the Surfside condo collapse, should be commended.

"Insurers are fully committed to supporting the implementation of the bills passed during this Special Session and doing our part to improve and ensure access and affordability in the marketplace for consumers.

"SB 2D makes significant strides toward reining in excessive lawsuits that have led to higher costs and less choice for Florida policyholders. The bill includes key provisions that help protect policyholders by preventing roofing repair scams, bringing fairness to the legal system, increasing transparency, and providing additional resources to make homes more resilient against hurricanes.

"While SB 2D is expected to help bring stability to the marketplace over time, there is no quick fix to a crisis of this magnitude. It took years for the market to deteriorate to near total collapse and it will take time for things to improve. As we have seen with past attempts to rein in fraud and lawsuit abuse, bad actors often find ways to circumvent Florida's laws and regulations so they can continue profiting off consumers. Legislators, regulators, and the industry must remain vigilant to ensure the good intentions of the legislation are not thwarted."

The American Property Casualty Insurance Association (APCIA) is the primary national trade association for home, auto, and business insurers. APCIA promotes and protects the viability of private competition for the benefit of consumers and insurers, with a legacy dating back 150 years. APCIA members represent all sizes, structures, and regions--protecting families, communities, and businesses in the U.S. and across the globe.