APCIA Sees Curbing Insurance Suits as Top Priority in Fla.
Curbing the number of property and auto insurance lawsuits in Florida is among the top priorities for the American Property Casualty Insurance Association, the insurer trade group said in advance of the state Legislature's 2022 session that kicked off Tuesday.
Alan Rubin, a lobbyist and principal with Blank Rome LLP, told Law360 that the state Legislature could take a number of approaches to reducing the number of lawsuits without impeding a homeowner's ability to seek coverage following a storm claim.
He suggested the Legislature could make it clearer to insurance companies what constitutes water damage, and what constitutes wind damage. Together, those perils often cause massive damage to hurricane-prone regions like the south of Florida.
More clarity about those damages could reduce insurance litigation, Rubin said.
Florida's insurer of last resort, Citizens Property Insurance Corp., also approved premium increases last year, but they still need to be rubber-stamped by the state's Office of Insurance Regulation. Rubin noted, however, that in an election year, with Gov. Ron DeSantis on the ballot, the possibility of a Citizens rate increase seemed unlikely.
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“APCIA Sees Curbing Insurance Suits as Top Priority in Fla.,” by Eli Flesch was published in Law360 on January 11, 2022.