benzinga109d ago
TALLAHASSEE, Fla., March 04, 2026 (GLOBE NEWSWIRE) -- During National Consumer Protection Week, the Personal Insurance Federation of Florida (PIFF) is highlighting signs of stability in Florida's property and auto insurance markets — as well as the journey from crisis to course correction — through its resource hub: PIFF.net/MarketPulse."States across the country are watching Florida," said Michael Carlson, president of PIFF. "The reforms are working. We must protect them, watch for emerging schemes and be ready to close the next loophole before it becomes a crisis so the markets can continue moving toward long-term health and stability for consumers. We hope the Market Pulse will be a tool for policymakers, media, and stakeholders — in our own state and beyond — to explore the latest market data as well as the history of Florida's road to reforms."Providing added context and data for reporters and policymakers, PIFF has collected research and created infographics and timelines documenting Florida's property insurance reforms and the state's path from crisis toward recovery.Florida's property insurance market — one of the most complex in the world — has long been shaped by hurricanes, tornadoes, floods, outdated legal frameworks and years of third-party litigation abuse that pushed the system toward crisis. Skyrocketing lawsuits, rising premiums and insurer insolvencies strained consumers and the state's economy for more than a decade.Florida lawmakers began taking steps to address insurance challenges in 2019. However, new loopholes allowed abusive litigation to continue growing. In 2022, the Legislature and Gov. Ron DeSantis enacted comprehensive legal reforms aimed at addressing the root causes of the property insurance crisis. In ...Full story available on Benzinga.com
