Navigation Legislative affairs director for Gov. DeSantis on tort reform: ‘Florida finally stabilized its insurance market’
Peter Cuderman, Director of Legislative and Intergovernmental Affairs of the Executive Office, said that Florida’s insurance market has stabilized following major tort reforms. These changes have resulted in more insurers entering the market, lower costs, and fewer lawsuits.
“Florida finally stabilized its insurance market after landmark tort reforms in 2022 and 2023,” said Cuderman. “12 new insurers entered the market. Lawsuits fell 23% Consumers saw rate reductions for the first time in years.”
According to the Insurance Industry Institute, Florida’s insurance market has shown signs of stabilization following major tort reforms enacted in 2022 and 2023. These reforms have helped reduce litigation abuse and restore insurer confidence, particularly for models like reciprocal insurance exchanges. The reforms targeted fraudulent claims and runaway legal fees, making the state more appealing for insurers structured around member-driven, cost-conscious operations. As a result, reciprocal exchanges are increasingly being viewed as a viable solution to Florida’s historically volatile insurance landscape.
