Lawmakers Prepare For Special Session On Property Insurance Crisis

The state's property insurance crisis under the microscope yet again in the 2nd special session called by the Governor to work out the kinks. No bills are out yet just, but Chief Financial Officer Jimmy Patronis says there are plenty of reforms to discuss. First and foremost, he would like to get rid of the one-way attorneys fees provision which leads to almost 80 -percent of all property loss litigation in the U-S originating from Florida. Hurricane Ian, estimated to be the second largest U-S catastrophe on record with at least 60-billion in losses only worsened this crisis. So no matter what shakes out this session, expect your property insurance rates to go up.


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