New You can now listen to Carrier Management articles!

Florida’s home insurance market has been in crisis for years, and recent tort reform aims to reduce claims costs by putting an end to frivolous lawsuits, a welcome development in a state where insurers have spent $51 billion over 10 years against a torrent of litigation.

To put it another way, 79 percent of all home insurance litigation in the U.S. stems from Florida despite the state only accounting for 9 percent of all home insurance claims, according to a Triple I analysis of Florida Office of Insurance Regulation and National Association of Insurance Commissioners data.

Enter your email to read the full article.

Already a subscriber? Log in here