TALLAHASSEE, Florida – The Florida Senate on Thursday approved Senate Bill 76 aimed at halting frivolous umbrella claims and lawsuits.
In a February investigation by Spectrum News 13 Watchdog, experts and lawmakers said so-called fraudulent roofing claims are responsible for an increase in home insurance premiums in recent years.
In the first nine months of 2020, insurance companies called for dozens of double-digit increases, according to the Florida Office of Insurance Regulation. The state approved many of these requests.
Some experts say insurance companies are raising interest rates to offset high litigation costs, some experts said. Others stated that roofing companies who offer frivolous claims for damages are to blame.
According to the Insurance Information Institute, 45,000 lawsuits were filed against insurers in Florida in 2018. This number is expected to increase to 150,000 by 2020 and to over 200,000 by 2021.
Two other related bills, House Bill 305 and SB 212, are still under discussion in committee.