CONTACT: Allison Aubuchon, APR
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FOR IMMEDIATE RELEASE
FSLA Applauds Governor & Legislature for Bold Reforms
Senate Bill 2-D Promotes Insurance Availability and Affordability
Tallahassee, Fla. (May 27, 2022) – On Thursday, Governor Ron DeSantis signed Senate Bill 2-D into law. The legislation, filed by Rep. Jay Trumbull (R-Panama City) and Sen. Jim Boyd (R-Bradenton), provides reforms addressing exploitative litigation in Florida’s ailing property insurance market.
Florida Surplus Lines Association (FSLA) president Kathy Colangelo issued the following statement on the bill becoming law:
“We’re grateful Governor DeSantis brought everyone to the table for a special session while time is of the essence. Florida’s property insurance market is facing systemic challenges. Rising insurance costs and decreasing availability are due to a number of compounding factors, but chief among them is rampant lawsuit abuse. SB 2-D addresses exploitative litigation and offers common-sense reforms that help promote insurance availability and affordability from surplus lines and admitted carriers alike.
“During this hardening marketplace, the surplus lines market will continue to provide coverage to commercial and residential risks that need it. While surplus lines serve as an important piece in the overall insurance market puzzle, they are not a true substitute for a healthy domestic market.”
“As we head into Hurricane Season, the importance of preparing for weather events underscores the need to stamp out man-made problems that harm property owners and inhibit their ability to procure necessary coverage. We’re thankful for the strides made during the special session.”
To learn more about the Florida Surplus Lines Association, visit www.myFSLA.com.
The Florida Surplus Lines Association (FSLA) is an association representing excess and surplus lines agency member firms and associate members in Florida. Over the past 60 years, FSLA has promoted the regulatory and legislative interests of FSLA members and the Florida surplus lines industry, with a focus on supporting opportunities and insuring risks throughout Florida. The Florida Surplus Lines Association serves as a voice and a resource for its members and is consistently recognized for being one of the most active in the nation, ranking among the top three surplus lines associations in the country. Learn more at www.myFSLA.com.
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