(Photo: Lisa Willis/ALM)
On May 21, the Florida Office of Insurance Regulation (OIR) published its May 2024 Florida Property Insurance Market Update, claiming "overall market stabilization following the historic legislative reforms of 2022 and 2023."
Those 2022 and 2023 reforms include Florida Governor Ron DeSantis' signing of SB 2-A, which eliminated one-way attorneys' fees for disincentivizing "frivolous lawsuits" to reduce the burden of litigation and bring down costs for Florida homeowners.
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