Florida, which has historically been a challenging region for US property insurance due to high litigation and exposure to natural disasters, has implemented significant reforms to stabilize its insurance market.
The reforms, initiated in 2022-2023, aimed to reduce this high level of litigation, which often excessively favored consumers. In turn, this sought to improve conditions for insurers in the state, supporting more profitable underwriting, and aimed to reduce the reliance on the state insurer of last resort.
This paper outlines how these measures can be deemed successful, analyzed through the lens of the 2025 June 1 renewal. It explores why insurers and reinsurers are looking again at Florida as an attractive destination for risk capital, and how Florida can serve as a model for reform in other states.
