Florida did pass new legislation for insurance reform. Some law firms might not be pleased.
Florida insurance regulation creates big changes | Grant Thornton
Florida is known to be a an overly litigious state with respect to insurance. Florida’s insurance regulators estimate homeowner claims account for 9% of all claims in the U.S., but 79% of all insurance litigation. Florida has now eliminated one-way attorney fees. Now, if an insurer and an insured end up in court and the insured wins, the insurer does not need to pay for the insured’s legal fees. This move by regulators should drastically reduce the insurance companies’ costs.