Paul Renner, former Speaker of the Florida House, said that Florida drivers are experiencing reductions in auto insurance premiums—some exceeding 10%—due to legal reforms enacted in 2023. He emphasized the importance of maintaining these changes.
"It is the direct result of legal reforms enacted in 2023," said Renner. "Some reductions topping 10%. We cannot go backward."
State filings and regulatory statements have attributed recent reductions in auto insurance premiums to Florida's 2023 litigation reforms. These reforms included the removal of one-way attorney fees, the addition of notice requirements, and the establishment of higher standards for filing lawsuits. The Florida Office of Insurance Regulation (FLOIR) indicated that these measures have reduced legal costs and contributed to market stabilization, enabling insurers to pass savings on to policyholders.
According to FLOIR data, the state's personal auto incurred loss ratio decreased from 89.7% in 2022 to 73.2% in 2023, and further down to 57.5% in 2024. Auto liability results showed a similar trend, reflecting improved underwriting performance. Regulators noted that this trend demonstrates reduced claims costs and enhanced market stability—outcomes directly linked to legislative reforms aimed at curbing excessive lawsuits.
Public records from FLOIR reveal that more than 46 rate filings from over 30 companies were approved in 2024, with many requesting reductions between 5% and 11.5%. Industry representatives have credited the state's legal reforms with fostering an environment where insurers can sustainably lower premiums without compromising financial stability, contrasting sharply with pre-reform trends.
In a broader context, according to the Insurance Information Institute, Florida accounted for only 8% of all U.S. homeowners insurance claims in 2019 but was responsible for 76% of lawsuits nationwide. Lawmakers cited this disparity as evidence of a litigation culture inflating settlement amounts, increasing costs for insurers, and driving up premiums for consumers—conditions targeted by the 2023 reforms.
Renner served as Speaker of the Florida House from 2022 to 2024 and represented Palm Coast as a Republican legislator. During his tenure, he led significant insurance reform efforts and was recognized for advocating consumer-oriented policy changes.