Sal Nuzzo, executive director of the nonprofit Consumers Defense, expressed his appreciation for Gov. Ron DeSantis and other Florida officials who implemented tort reform measures last year. Nuzzo shared his May 21 statement in response to news that eight companies are reducing their property insurance rates in Florida this year.
"Thank you @GovRonDeSantis @JimmyPatronis @Paul_Renner @Kathleen4SWFL and the entire cohort of Florida policymakers who made comprehensive tort reform a reality in 2023," said Nuzzo.
According to a press release from the state’s Office of Insurance Regulation (OIR), Florida’s property and casualty insurance market is stabilizing as a result of legislative reforms implemented in 2022 and 2023. At least eight insurance companies filed rate decreases that will take effect this year, while ten other companies filed zero percent increases. "As Insurance Commissioner, my top priority has been increasing protection for Florida’s consumers and today’s announcement demonstrates Governor DeSantis’ ongoing commitment to ensuring a strengthened and reliable insurance market for policyholders," Insurance Commissioner Michael Yaworsky said in a statement.
In May 2023, DeSantis signed three bills aiming to strengthen the state’s insurance market and protect consumers, according to a press release. Senate President Kathleen Passidomo said one of the bills, SB 7052, is "a strong and meaningful insurer accountability package that enhances consumer-friendly provisions of current law and increases transparency between homeowners and insurance companies." The other two bills, HB 799 and HB 881, expand mitigation discount programs for insurers and expand eligibility for the My Safe Florida Home Program. House Speaker Paul Renner said the legislation "not only empowers homeowners but also cultivates market-driven competition, ultimately leading to lower costs."
Another tort reform bill DeSantis signed into law last year was HB 837, which was intended to decrease the number of "frivolous" lawsuits in the state that ultimately drive up the costs of goods and services, according to a press release. The reforms encompassed by HB 837 include eliminating attorney’s fee multipliers, standardizing the calculation of medical damages, and reducing the statute of limitations to two years for medical damages. "The vast majority of attorneys work very hard to provide sound legal representation for Floridians in these difficult circumstances," Passidomo said in a statement. "Unfortunately, there are a few bad actors who are in the business to draw out civil cases as long as possible, collecting more and more fees from insurance companies. Litigation drives up the basic costs of goods and services for everyone across all areas of industry and commerce."
Tort reform measures enacted in Florida have helped ease the number of "nuclear" verdicts—verdicts larger than $10 million—in the state, according to a report from Marathon Strategies. From 2009 to 2022, Florida had the second largest sum of nuclear verdicts out of any state in the country but dropped to seventh place in 2023 thanks to tort reform measures signed into law by Gov. Ron DeSantis.
Nuzzo joined Consumers Defense in February after spending ten years with the James Madison Institute, a think tank advocating for policies that support limited government and economic freedom.