Props to DeSantis/Senate for tort reform in regards to Florida insurance

I’m not sure what this all covers but as far as property insurance goes I’m amazed insurance companies sell policies in any coastal community. Having said that I’ve never understood why a person needed four years to file a negligence suit for things like traffic accidents.

I remember while stopped at a light I was hit from the rear. There wasn’t that much damage, and their insurance company paid for the repairs. What amazed me was the number of law firms sending me letters saying they wanted to protect my rights.

 

Here is an interesting take on it from both sides

“You have a lot of use of the legal system that’s been put toward not benefiting someone in the system,” DeSantis said at a Jacksonville press conference the day before.

The press conference sparked a blizzard of statements from Florida’s leading business groups.

“Florida’s bottom-five legal climate is hurting local businesses,” said Florida Chamber of Commerce President and CEO Mark Wilson.

“Florida’s current tort climate is one of the top challenges facing businesses in every industry and every corner of our state,” said Associated Industries of Florida CEO and President Brewster Bevis.


Major changes to Florida tort laws proposed in the House

 

This is not just car accident cases, it is all negligence cases.

 

That’s what I figured but I wasn’t sure what was included. My point though is I can see from my experience with lawyers, without me contacting them, wanting to represent me why they want to hobble frivolous lawsuits. Half the TV ads here in Gainesville are law firms talking about how much money they got for their clients.

 

You get those ads because certain law firms engage in direct and focused marketing. For example, a traffic ticket is a public document. Once it’s filed, the marketing can siphon relevant information for direct marketing. Traffic ticket defenders will send the guy who received a ticket direct advertising, hoping to get that business. Since there was an accident with damages, the PI lawyers will send you direct advertising hoping you call them first. It’s a proven marketing strategy.

 

I understand the business end of it, but there were no injuries for me to sue for. In fact her insurance company called me three times to make sure I was okay. I realize they just wanted to get me on tape saying I was fine in case I planned to sue, but should they have to do that if the damage wasn’t that bad?

 

Absolutely!!! I’m just providing a possible explanation as to why you received the mailings.

 

Perhaps many of those insurers were undercapitalized/ mismanaged to begin with, taking profits and paying big bonuses during good times rather than adding to capital. Several small companies established during Rick Scott's tenure have failed.

I tend to agree that reforms were needed, but there is nothing here to force insurance companies to actually pay claims in a timely fashion. I've recently read multiple articles regarding insurance companies and Ian claims. Just another shameful example of taking advantage of those less fortunate. If I ever have another insurance claim, I will quickly have my attorney on speed dial.

 

Which is why a buddy of mine that works for the large double-name firm in Orlando was having all their attorneys filing 10's of thousands of lawsuits before this went into effect. I'm sure they are all very worthy suits.

 

I sure hope these stupid Morgan and Morgan and freaking Attorney Dan Newlin commercials get reduced as a consequence of this reform but I doubt it. What happened to not disclosing settlement amounts and certainly not trumpeting them like a lottery win? I did some PI work years ago and I didn’t even believe my clients. There are obviously those that are truly injured but there’s thousands more looking for a lottery ticket from any accident.

 

Yeah that Newlin guy loves using the filters

 

Agree with the second paragraph. And partially agree on the first. End of the day...We just need to not subsidize those that live in the highest risk spots. Now that gets tricky in some areas. As we just saw in Ft Myers. But even those non waterfront houses that are built well need a small premium. We have a waterfront home in Palm Coast. I am not concerned with storm surge. That said. If we did take an Ian hit it would get close. History just says a direct hit where we are will not happen like it did there. If we were ocean front...I would worry away. We bought and know the risks. And if premiums got too high. I would take the risk or look for a policy that excluded hurricanes as I am not that worried about them where we are. We were affected by both Irma and Ian (Matthew before we bought the house). But all minor stuff that would never meet the deductible.

Hopefully this will reign in the lawyers and companies looking for an easy payday to get a new roof a little bit.

 

Yep. Anybody with 5 years or less on their roofs, insurance companies are now requiring them to be replaced, due to all the crooked roofers claiming hail and storm damage

 

Our homeowner's insurance jumped by $2000 this past year, never had a claim.

 

It’s 15 years, not five here on the coast.

 

It’s likely attorneys will still take a case if it has merit, knowing their fees will be payed but it seems like by removing the multiplier the excessive costs will come down to a degree.

When I had my house fire the remediation companies were incessant about getting me to sign with them ASAP.
They all also said my ins company would never call it total lost despite it being very clearly likely a total loss.

I didn’t find them to be looking out for my interests at all.

 

I think it depends on where and who you are with. I have many friend who have 10 year old roofs that have gotten cancelation notices unless the replace their roofs.
Big part of why I bit the bullet and did metal on my rebuild. Cost twice as much but will last 30-40 years plus it lowers heating and cooling and overall ins costs. Increases resale value as well..

 

They can take that $1500 claim and make it 30k in the blink of an eye.

 

I think it depends on Which insurance company you have. A couple of my buddies one works for Allstate and the other 1 works for state fi'm told me this.
I know here in Gainesville right now so many people are having to pay for inspections proving their roofs have more than 5 years left, That's what's been required by the insurance companies

 

Frustrating without a doubt.

The insurance market (like gas, or stocks, or pork bellies) is oblivious to a single user’s experience. It’s a global market that can run roughshod over single users.