Ten big issues in Florida insurance overhaul
Florida lawmakers this week held a special session and passed a 105-page bill aimed at stabilizing the state’s troubled property-insurance system. The bill (SB 2-A) deals with numerous issues, including lawsuits, the state-backed Citizens Property Insurance Corp. and critical reinsurance coverage. Here are 10 key issues that lawmakers addressed:
— FIGHTING FEES: Property insurers have long blamed lawsuits for driving up costs and contended that what are known as “one-way attorney fees” encourage litigation. The bill eliminates one-way attorney fees, which have required insurers to pay the attorney fees of policyholders who successfully file lawsuits. Critics say the change will hurt the abil...
