Navigation Partner of Floridian Partner on HB 1551: ‘We must prioritize consumer protections if this bill moves forward’
George Feijoo, a partner at Floridian Partners, expressed concerns that House Bill 1551 threatens recent insurance market reforms and could unfairly shift legal risks onto consumers. He made the statement during public testimony on the bill.
“We respectfully speak today in opposition to the bill,” said Feijoo. “The party with no skin in the game is the plaintiff’s attorney. We should be excited to see the continued healing of the market. The legislature put in place meaningful regulations, including post-hurricane claims handling examinations.”
According to AM Best, reciprocal insurance exchanges are member-owned entities where policyholders insure one another through a shared attorney-in-fact. These structures have seen rapid growth in catastrophe-prone regions like Florida, with at least 21 reciprocal exchanges formed between 2017 and 2024—nearly half domiciled in the state.
