Rising natural disaster costs, increased home repair expenses, and legal system challenges have made homeowners’ insurance significantly less affordable across the United States over the past two decades, according to new research from the Insurance Research Council. The trend shows no signs of slowing. The financial burden of protecting one’s home has grown substantially. With … Continue reading Disasters, Litigation Reshape Homeowners’ Insurance Affordability→
By Lewis Nibbelin, Contributing Writer, Triple-I The Florida House’s attempt to curtail recent legal system reforms met firm resistance from the state Senate this week, preserving the 2022 and 2023 legislation that stabilized the state’s property insurance market. Aiming to reinstate one-way attorney fees in insurance litigation, the House added an amendment – originally part … Continue reading Florida Senate RejectsLegal-Reform Challenge→
A record number of bills targeting third-party litigation funding are under consideration across the United States, with Georgia and Kansas already passing disclosure measures, according to an analysis by Insurance Insider. The U.S. Government Accountability Office defines third-party litigation funding as “an arrangement in which a funder who is not a party to the lawsuit agrees to … Continue reading Reining in Third-Party Litigation Funding Gains Traction Nationwide→
By Lewis Nibbelin, Contributing Writer, Triple-I U.S. property claims volume rose 36 percent in 2024, propelled by a 113 percent increase in catastrophe claims, according to a recent Verisk Analytics report. While evolving climate risks fueled claim frequency, uncertain inflation trends and unchecked legal system abuse will likely further strain insurer costs and time to … Continue reading Claims Volume Up 36%in 2024; Climate, Costs, Litigation Drive Trend→
Recent improvement in Florida’s insurance market – fostered by legislation targeting legal system abuse – is threatened by several bills proposed in the state’s 2025 legislative session. Florida’s property insurance market has stabilized thanks to reforms introduced in 2022 and 2023 aimed at reducing excessive litigation and inflated claims. As a result of these reforms, … Continue reading Florida Bills Would Reverse Progress on Costly Legal System Abuse→
Florida’s legislative reforms to address claim fraud and legal system abuse are stabilizing the state’s property/casualty insurance market, according to the latest Triple-I Issues Brief. Claims-related litigation has significantly declined over the past two years, and premium averages are nearly flat, with several insurers requesting rate decreases from the state’s insurance regulator. In addition, the … Continue reading Florida ReformsBear Fruit as Premium Rates Stabilize →
By Lewis Nibbelin, Contributing Writer, Triple-I Georgia – frequently featured on the American Tort Reform Foundation’s list of “Judicial Hellholes” – may want to consider imitating its neighbor Florida in pursuing legal system abuse reforms, Triple-I CEO Sean Kevelighan suggested in a recent interview for WBS News/Talk Radio. In 2022 – the year Category 4 … Continue reading How Georgia Might Learn From Florida Reforms→
Homeowners insurance premium growth in Florida has slowed since the state implemented legal system abuse reforms in 2022, according to a Triple-I analysis. As shown in the chart below, average annual premiums climbed sharply after 2020. This was due in part to inflation spurred by the COVID-19 pandemic and the war in Ukraine as well … Continue reading Florida Homeowners Premium Growth Slowsas Reforms Take Hold, Inflation Cools→
Legislative reforms put in place in 2022 and early 2023 to address legal system abuse and assignment-of-benefits claim fraud in Florida are beginning to help the state’s property/casualty insurance market recover from its crisis of recent years, according to a new Triple-I Issues Brief. Claims-related litigation is down, the “depopulation” of the state’s insurer of … Continue reading Legal Reforms Boost Florida Insurance Market; Premium Relief Will Require More Time→
