Triple-I: Home Insurance Premiums in Florida Increased 80% Less in 2023 Than Initial Projections Due in Large Part to Legislative Legal System Abuse Reforms
June 27, 2024
June 27, 2024
ST. JOHNS, Florida, June 27 (TNSresL) -- The Insurance Information Institute issued the following news release:
Researchers at the Insurance Information Institute (Triple-I) have determined that home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 (41% less) and 2023 (80% less). The significant differences in premium averages reflect the impact of legislative legal system abuse reforms as well as lower levels of inflation in replacement cost . . .
Researchers at the Insurance Information Institute (Triple-I) have determined that home insurance premiums in Florida rose at a much lower rate than originally projected in 2022 (41% less) and 2023 (80% less). The significant differences in premium averages reflect the impact of legislative legal system abuse reforms as well as lower levels of inflation in replacement cost . . .