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Florida lawmakers could target attorney fees - Jacksonville Business Journal

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Florida lawmakers could target attorney fees

, R-Palm Coast, released a formal session proclamation Tuesday that listed a series of hot-button insurance issues that could be considered.

Citizens was created as an insurer of last resort. With companies dumping hundreds of thousands of policies to reduce financial risks — and six insurers going insolvent since February — Citizens has seen its policy count grow from 542,739 in December 2020 to 1.13 million as of Friday. also said a major challenge is drawing investment capital into the market. At the same time, insurers are seeing large increases in the costs of reinsurance, backup coverage that plays a critical role in Florida.

During a call with reporters Tuesday, House Democrats argued lawmakers need to address rate increases, push for a national catastrophic risk pool, ensure homeowners are better educated on their policies and reduce the dependence on Citizens., an attorney from Dania Beach who specializes in property insurance law, said the government and insurance companies need to be more accountable for their actions. She pointed to the state Office of Insurance Regulation.

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