Dennis Gagnon, president and founder of BRP-Affordable Home Insurance, said that Florida homeowners have experienced real savings of approximately 37% since the 2022 tort reform, based on policy data from his agency.
"Florida insureds have not seen any savings associated with the aforementioned reform is absolutely incorrect and unfound," said Gagnon, according to LinkedIn. "Real statistical data of Floridians saving on insurance premiums. 39 total postings since 3/10/25 resulted in a savings of $153,313. If Florida insurance regulations stay consistent insured's will continue to see more and more savings."
According to Worth Insurance, reciprocal insurance exchanges are particularly prevalent in high-risk areas like Florida. These exchanges help stabilize the insurance market by pooling resources among policyholders. This structure allows for risk-sharing and can provide more consistent coverage options in regions prone to natural disasters. By operating on a non-profit basis, these exchanges focus on affordability and member benefits rather than shareholder profits.
As reported by the Louisiana Department of Insurance, reciprocal exchanges often operate on a non-profit basis, which can lead to lower premiums compared to traditional insurance companies. Since they do not have to deliver profits to external shareholders, their focus is on providing cost-effective coverage for members. Additionally, when the exchange experiences fewer claims, members may receive dividends or rebates, further reducing their insurance costs.
According to Investopedia, in a reciprocal exchange, policyholders are also owners of the exchange. This unique structure allows policyholders to have a direct say in the governance and operations of the exchange, giving them a stake in the success of the organization. Unlike traditional insurance companies where stockholders control the direction of the business, in a reciprocal exchange, policyholders can elect the governing body and vote on key decisions, ensuring that the company’s actions align with their best interests.
Gagnon is also noted as the founder and president of Affordable Home Insurance (AHI), an independent insurance firm established in 2006. Under his leadership, AHI has become one of the leading insurance providers in Northwest Florida with office locations in Miramar Beach and Panama City. He is recognized for his expertise in the insurance industry and his active involvement in discussions on Florida's property insurance market.