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

Pretty sure insurance adjuster gets 10% and (if you need one) attorney gets another 10% for any settlement. It’s only if it goes to trial that the legal costs ramp up due to lawyers having to prepare for, and attend a trial. Up to that point, the lawyers involvement is mostly shooting a few emails. The adjuster still does most of the leg work.

Fortunately, didn’t need the attorney for this Ian related stuff. The insurance got serious as soon as the adjuster was brought in.

 

With the bill that just passed your attorney can no longer receive their fees from the insurance company. You will need to pay your attorney directly

 

but the settlement amount can include funds to pay the attorney with if I am not mistaken.

 

You might be right

 

That's my concern. Will this new law prevent insurance companies from raising rates as they have been... like business as usual for these companies. We need some sort of price increase protections from the insurance industry.

 

You know....sometimes you give off Bernie vibes

 

That's on the low end of what a PA or Attorney can get from a settlement

 

Technically insurance does have price controls, all rate increases are subject to state approval. Christ is the only governor in recent memory that hasn't been a rubber stamp for the industry.

 

True, which will greatly discourage claims which should make insurance companies happy. If you have deep pockets probably not a biggie, but otherwise you could be screwed.

 

And your case highlights why the insurance industry really wanted “tort reform.” They can screw the policy holder with little recourse, because they made hiring a lawyer and even a adjuster impractical.

 

This bill was all for the insurance companies. It was sold to constituents as protection but in reality it gives insurance companies carte blanche to reject claims and removes a remedy from the claimant. Tallahassee is bought and paid for by the insurance companies.

 

The money may be paid by the insured from the insurance proceeds. So, if you have a $30,000 dispute, the lawyer would typically get $10g. But te problem with that is that the lawyer would likely have about $30g of fees in the time spent, so the lawyers are not going to touch that case. It makes no sense to work on a case where you lose the opportunity of $20g to work another matter.

 

Posted the same almost at the exact same time. This bill is horrible for home owners in FL.

 

Notice how nothing was done to protect homeowners from the massive price increase of mandatory windstorm insurance, leaving many homeowners with were dropped through no fault of their own and forced to pay exorbitant sums for neutered “forced placed” mortgage-mandated insurance.

But …. Don’t say gay!!!

 

Todays Times says no evidence it’s lawsuits driving rates, and no evidence the lawsuits are unmeritorious in significant part


Litigation has yet to be found to be the cause of a single insurance company failure. Despite cracking down on litigation, premiums are still going up, and the industry now says they won’t go down in the foreseeable future because of factors, such as climate change, that are out of their control.

Some lawmakers are now wondering when, if ever, they’ll see proof that what they voted for was effective.



Florida does have an extreme number of lawsuits against insurers compared to other states. Even plaintiffs’ lawyers and consumer advocates will admit some litigation against insurance companies is abusive or unnecessary. One law firm has been shut down for its practices.

But the Legislature hasn’t studied how many of those lawsuits are excessive and not triggered by legitimate grievances against the insurer.


Logically, insurer misconduct is not an independent factor. If the state caps premiums to a level that do not reflect true risk, the only way to remain viable is to not pay valid claims. So the Florida model is to resist political pressure by limiting rates, then try to block lawsuits when claims are not paid properly, and instead ban books and blame drag queens and true history for all our problems




Tampa Bay Times

 

Nothing to stop them now.

This bill was designed to protect insurance companies, not benefit insureds. I laugh every time I see the horribly misinformed title of this thread.

 

Buzzwords don't solve real problems. Unfortunately, buzzwords are all the current people in power in Tallahassee can offer.

 

That has nothing to do with the home insurance issues. And it should not be that hard to verify if she's actually injured or not. Somebody seeming fine at the scene doesn't mean they're actually okay. And an attorney demanding $350k doesn't mean they'll get anything close to $350k.