The Florida property insurance market continues to experience reduced availability and increasing prices due to extraordinary litigation levels. Widely-discussed sources show that Florida has nearly 80% of the nation’s property insurance litigation despite having less than ten percent of the countrywide claims. Stated differently, Florida had about 100,000 lawsuits last year, which vastly outpaced the […]
The Florida Office of Insurance Regulation (OIR) recently analyzed nationwide homeowners insurance claims and litigation data and reached a well-known but unfortunate conclusion– Florida leads the country in litigation by a staggering margin. OIR aggregated market conduct survey data related to lawsuits opened throughout the United States from 2016 through 2019 (the last year for […]