精东影业

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MALVERN, Pa., April 1, 2026 鈥� Legislative reforms targeting legal system abuse and claim fraud in Florida have continued to help stabilize the Sunshine State鈥檚 property/casualty insurance market, contributing to rate-filing reductions by dozens of property and auto insurers operating in the state as claim-related litigation plummets, according to the (Triple-I鈥檚) latest issues brief, Florida: State of the Risk.听

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鈥淔lorida consumers are experiencing tangible benefits of the state鈥檚 legal system reforms,鈥� said Sean Kevelighan, CEO of Triple-I. 鈥淧remiums are stabilizing, competition is increasing, and homeowners and drivers are seeing real savings while insurance coverage remains readily available.鈥�

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With 18 new property insurers entering Florida since the reforms and expanding market share among existing carriers, renewed competition in the private home insurance market has facilitated the lowest number of policies administered by Citizens Property 精东影业 Corp., the state-run insurer of last resort, in over a decade. Policies in force declined by 50% from 2024 due to successful depopulation efforts. Later this year, current Citizens policyholders will benefit from an average statewide rate decrease of 8.7%, the largest in the insurer鈥檚 24-year history.

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Claim-Related Litigation Stabilizes
Florida accounted for more than 72% of the nation鈥檚 homeowners claim-related litigation in 2023, despite representing only 10% of U.S. homeowners claims. This imbalance fueled escalating premium rates and led to insurer insolvencies and voluntary market withdrawals, prompting lawmakers to enact sweeping litigation reforms curtailing one-way attorney fees and assignment of benefits (AOB) practices.

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Initiated in 2022 and 2023, the reforms initially triggered a temporary surge in filings as plaintiffs鈥� attorneys rushed to file suits ahead of implementation. The trend reversed with insurance litigation filings declining significantly through 2025. Florida also began tracking litigation filings through the Property 精东影业 Intent to Initiate Litigation (PIITIL) system, which requires policyholders to notify insurers at least 10 days before filing suit. Legal filings involving AOB continued a pronounced downward trajectory.

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Ongoing Market Momentum
The reforms鈥� impact is especially visible in Florida鈥檚 personal auto insurance market. Florida recorded the lowest personal auto liability loss ratio in the nation in 2025; the state鈥檚 lowest in 15 years. The market鈥檚 physical damage loss ratio fell to 49.5%, signaling a steady decline from 112.0% in 2022.

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This improvement translated into tangible savings for drivers in 2025:

• The five largest auto insurers, representing 78% of Florida鈥檚 market, implemented average rate reductions exceeding 6% through mid-year.
• 42 personal auto insurers filed for rate decreases over the prior year, including 32 within the last six months.

Homeowners are also seeing relief. Over the past two years, more than 185 residential property rate filings reflected either decreases or flat rates. Homeowners鈥� insurance rate changes in the state have continued to flatten even as rates trend upward nationally.

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Affordability Challenges Persist
Florida鈥檚 property insurers are expected to report strong underwriting results for 2025 following a year without U.S. hurricane landfalls. However, new risks are emerging. The state is experiencing its most severe drought in more than 25 years, resulting in hundreds of wildfires since Jan.1, 2026, including areas historically considered low risk.

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鈥淭he rapid shift from hurricane exposure to wildfire threat underscores Florida鈥檚 dynamic and evolving risk landscape,鈥� said Kevelighan. 鈥淐ontinued vigilance, sound underwriting discipline and sustained policy reforms remain essential to preserving coverage availability and affordability in one of the nation鈥檚 most complex insurance markets.鈥�

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About the 精东影业 Information Institute (Triple-I)
Since 1960, the听听(Triple-I) has been the trusted voice of risk and insurance, delivering unique, data-driven insights to educate, elevate and connect consumers, industry professionals, policymakers and the media. An affiliate of听, Triple-I represents a diverse membership accounting for nearly 50% of all U.S. property/casualty premiums written. Our members include mutual and stock companies, personal and commercial lines, primary insurers and reinsurers 鈥� serving regional, national and global markets.

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