The passage of landmark property insurance reforms this month by the Florida Legislature, including an end to incentives for filing frivolous lawsuits, likely won’t be the last word on insurance reforms, industry insiders say.

In a recent news release, the Florida Association of Insurance Agents (FAIA) offered its view on why the newly passed reforms, which will end the application of the state’s one-way attorney fee provision on property insurance claims, were needed to stabilize the insurance market.

“Since 2018, frivolous litigation, fraud and unnecessary third-party claims involvement have led to 10 insurer insolvencies, hundreds of thousands of policy cancellations and non-renewals, substantially higher premiums and reduced coverages,” the release states.