Florida’s property insurance reform bill has been passed by the House and awaits a signature from State Governor Ron DeSantis, despite opposition from Democrats.
The bill aims to create a $1 billion reinsurance fund, reduce litigation costs and may compel some customers to leave state-created insurer Citizens.
Additionally, it aims to eliminate one-way attorney fees for property insurance lawsuits, removing the ability of a homeowner to sign over benefits to a contractor to pursue the claim on their behalf to kick-start repairs.
