The Florida House of Representatives has passed legislation aimed at limiting exorbitant attorney fees on property insurance lawsuits.
It’s hoped this will stop the rising trend of contractors soliciting the transfer of rights from insureds and subsequently inflated repair costs, all while using the legal system to their advantage.
For several years the Florida property insurance market has been plagued by underhanded behavior that has led to elevated loss and litigation costs, higher insurance rates, and shifting coverage availability throughout the state.
“I’m confident that this bill will restore the balance to this area of law,” said Rep. Beltran on the House floor. “And it will allow folks to continue to litigate valid claims and that attorney fees will be more reasonable.”
The legislation, which passed 72 to 46 on the House floor follows the delivery of 1,000 petitions to the Legislature calling on them to act on HB 7071 and its companion bill SB 914, sponsored by Sen. Jeff Brandes.
HB 7071 brings Florida law in line with the US Supreme Court standard and the rest of the country.
Without meaningful reform, it’s likely millions of Floridians on low or fixed incomes will continue to pay higher prices on homeowners’ insurance.
Next, HB 7071 will be sent in Messages to the Florida Senate, and the Florida Senate must decide if it will hear the companion bill in its last remaining committee reference, the Senate Rules Committee.
SB 914 was last considered favorably by Senate Judiciary Committee on February 4. The Senate bill has remained stagnant for a month.
