Florida House Votes 72 to 46 to Limit Exorbitant Attorney Fees
“I’m confident that this bill will restore the balance to this area of law," said
The legislation, which passed 72 to 46 on the House floor, has the backing of Floridians. Last month, more than 1,000 petitions were hand-delivered to the Legislature calling on them to act on HB 7071 and its companion bill SB 914, sponsored by Sen.
The legislation would alleviate homeowners' property insurance rates by putting an end to contingency risk multiplier fees on property insurance claims, except in rare and exceptional circumstances.
Contingency risk multiplier fees enable trial attorneys to pocket up to 30 times more than the value of the property insurance claim they represent. Trial attorneys are using homeowners' claims to collect six-figure paydays, and insurance policyholders are footing the bill through higher premiums.
Next, HB 7071 will be sent in Messages to the
Tort reform has long been a priority of Governor
"That, to me, is more of a lawyer-driven culture than it is based on people who actually suffer harm. If we can make it so that it’s based on the clients rather than the attorney, I think that would be better.”
HB 7071 brings
Trial attorneys in
In 2020, the
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