DeSantis Campaign Press Release - Florida's Insurance Market Continues to Grow and Stabilize Following Historic Reforms Enacted by Ron DeSantis

Florida has faced challenges in its insurance market for decades – but Ron DeSantis has done more than any governor to lay the groundwork for sustainable improvements to the insurance market.

According to the Insurance Information Institute, the most significant factors behind the rise in premiums are litigation and fraud. That's why DeSantis has proposed and signed landmark legislation to crack down on the fraudulent claims and abuses of the legal system that drive up insurance costs.

Earlier this year, DeSantis signed three bills that strengthen Florida's property insurance market, expand the state's home hardening and hazard mitigation programs, and further protect consumers against bad actors. These actions build on DeSantis' strong record of instituting meaningful reforms to Florida's property insurance market.

DeSantis enacted historic and unprecedented reforms designed to promote market stability, including Senate Bill 2-A and Senate Bill 2-D. The positive effects of these reforms are already apparent and will be fully realized in the long term.

Florida's insurance market continues to grow. In August 2023, the state announced that the second, third, and fourth new property and casualty insurers have been approved to enter the Florida market as a result of the reforms DeSantis championed. Applications from other companies continue to be reviewed on a rolling basis.

This is good news for consumers: More private carriers entering Florida's insurance market means more competitive pricing, which ultimately benefits all policyholders.