Analysts at AM Best have warned ahead of the second special session of Florida lawmakers that further insurer insolvencies are possible if immediate and substantive long-term reforms arent realised.
Source: Rebecca Blackwell, AP
Governor of Florida, Ron DeSantis, has called the session in order to work with the Legislature to introduce more competition and policies that will aim to lower prices for consumers, among other issues.
It follows an earlier special session this year when the state passed reforms designed to alleviate rising insurance costs, increase insurance claim transparency, and crack down on frivolous lawsuits.
In a new report on the Florida market, AM Best notes that many market participants fear an acceleration in the…
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