Hurricane Ian destroyed homes in a Florida residential area. Credit: bilanol/Adobe Stock
Florida's ongoing insurance crisis is causing insurers to rely less on outside counsel, as their peers go insolvent and insurance rates explode across the state.
As underwriting losses have been piling up in the billions in Florida, thanks to hurricanes and flooding, the state has seen nearly a dozen insurers depart over the last two years, and other others have been liquidated. In addition, Gov. Ron DeSantis signed a bill in 2023 that limits the ability to sue insurers over unpaid claims. The mix has led to less insurance defense work for some law firms, according to those competing in the space.
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Alexander Lugo
Alexander Lugo is a business of law reporter based in Miami who is focused on covering law firms in South Florida.
