Florida Attorney General Highlights Success in Insurance Market Reforms

TALLAHASSEE, Florida — Attorney General James Uthmeier addressed the Florida Chamber recently, emphasizing the success of the state’s reforms in the insurance market and cautioning insurers against harming this progress.

Uthmeier referenced a prediction from a former House Speaker, who said reforms would not lead to lower insurance rates. He countered this claim by noting significant changes in the market since the 2022 Special Session reforms. Seventeen new companies entered the homeowners insurance market, 33 companies filed rate decreases, and many others kept rates flat over the past year.

“The domestic property market has turned around,” Uthmeier said, pointing out that insurers moved from a $741 million loss in 2022 to a net income of $954 million in 2024. He mentioned that his own auto insurance rates dropped 6% for two consecutive years and that he is now seeing decreases in his property insurance as well.

“God helped us out with a calm storm season,” he added, underscoring the role of favorable weather in improving the industry’s outlook.

Despite this progress, Uthmeier urged the insurance industry to act responsibly. He stated, “So things are going well, but let’s not take it for granted. Let’s not abuse it.” He called for industry leaders to engage positively with their communities to combat the negative perceptions surrounding insurance companies.

Uthmeier insisted that insurers must assure Floridians of their support during emergencies to maintain the benefits gained from recent reforms. “My ask of you all in this room is to go out and be good actors, good citizens,” he concluded, while expressing his commitment from the state’s side.