FLORIDA INSURANCE REFORM IN PROGRESS – DESANTIS SIGNS BILL 76
The Personal Insurance Federation of Florida (PIFF) is among several happy Florida businesses that welcome this most recent step towards insurance reform by Governor DeSantis, as he received thanks after signing an allegedly beneficial bill that will muffle property insurance rate hikes, as well as curb the high costs of insurance litigation procedures.
According to business owners, Senate Bill 76 is a huge step for several reasons. One of them is eliminating the “attorney-fee multiplier”, which allegedly increases the costs of settlement with homeowners and permitted insurance providers to lower repair costs based on several factors. For example, if your roof is damaged in a storm and it is old, the insurance adjuster will lower the value of your claim.