Florida’s top five auto insurance groups are cutting personal auto rates by a statewide average of 6.5 percent due to legislative reforms that addressed legal system abuse and assignment of benefits (AOB) claim fraud, the Florida Office of Insurance Regulation (OIR) announced this week. “Citizens of the Sunshine State are now clearly seeing the benefits … Continue reading Litigation Reform Works: Florida Auto Insurance Premium Rates Declining→
With its abundance of unneeded new roofs on homes – and flashy lawyer billboards at every turn claiming massive settlements on claims – Florida’s insurance market is on the verge of failure. This man-made catastrophe is causing financial strain on consumers, as the annual cost of an average Florida homeowners insurance policy will skyrocket to … Continue reading Fraud, Litigation Push Florida Insurance Market to Brink of Collapse→
By Lewis Nibbelin, Research Writer, Triple-I Legal system reforms targeting fraud and excess litigation in Florida are helping drive renewed underwriting business and lower premium rates for consumers throughout the state, signaling ongoing improvements in the Sunshine State’s insurance market health, according to an S&P Global Market Intelligence analysis. Post-reform, nearly 20 new property insurers … Continue reading Florida Reforms Drive Benefits for Consumers→
By Lewis Nibbelin, Research Writer, Triple-I The Louisiana Department of Insurance’s new partnership to combat marketing tactics tied to third-party litigation funding (TPLF) is only the latest in a wave of state efforts to limit the practice across the country. TPLF occurs when outside investors profit from lawsuits by paying for legal costs in exchange … Continue reading States Take the Lead on Third-Party Litigation Funding Reform→
By Lewis Nibbelin, Research Writer, Triple-I Texas lawmakers struggling to ease the state’s rising insurance costs might find useful insights from Florida’s sustained commitment to legal system abuse reform. In recent years, Florida led the nation in claim-related litigation, accounting for 72 percent of homeowners’ insurance lawsuits despite representing only 10 percent of homeowners’ claims. … Continue reading Lessons for Texas in Florida Legal Reforms→
By Lewis Nibbelin, Research Writer, Triple-I Legislative reforms to address claim fraud and legal system abuse in Florida have continued to help stabilize the state’s property/casualty insurance market, contributing to premium reductions for thousands of homeowners and drivers, according to the latest Triple-I Issues Brief. Since the reforms, nearly 20 new property insurers have entered … Continue reading Florida Premiums Drop Amid Post-Reform Stability→
By Jeff Dunsavage, Senior Research Analyst, Triple-I Florida Gov. Ron DeSantis announced last week that state regulators have secured nearly $1 billion in premium refunds for Progressive auto insurance policyholders in the state, due to cost savings achieved through litigation reform. DeSantis, who signed sweeping tort reform legislation bills into law in 2022 and 2023, said … Continue reading Florida Governor Touts Auto Insurance Rebates, Tort Reform Success→
Inflation, litigation, and talent concerns are three major drivers of the specialty-lines trends the Argo Group explores in a recent report. Labor inflation is outpacing material costs, with U.S. labor costs rising 1.42 percent year over year, compared to 0.93 percent for materials, Argo reported. This surge in labor costs affects both claims payouts and … Continue reading Specialty Insurance Lines Trend Drivers: Inflation, Litigation, and Talent→
By William Nibbelin, Senior Research Actuary, Triple-I Motor vehicle tort cases in federal and state courts generated $42.8 billion in “excess value” from 2014 to 2023, according to new analysis by Triple-I. “Excess value” may sound like a good thing, but it’s not. It represents an additional cost of motor vehicle civil litigation – above … Continue reading Revealing Hidden Costto Consumers of Auto Litigation Inflation→
By Lewis Nibbelin, Contributing Writer, Triple-I Identifying key risk trends amid an increasingly complex risk landscape was a dominant theme throughout Triple-I’s 2025 Joint Industry Forum – particularly during the panel spotlighting some of the insurance industry’s C-suite leaders. Moderated by CNBC correspondent Contessa Brewer, the panel consisted of: Their discussion provided insight into how … Continue reading JIF 2025: Litigation Trends, Artificial Intelligence Take Center Stage→
