TALLAHASSEE, Fla. — Today, Governor Ron DeSantis signed bipartisan legislation implementing the most significant and comprehensive property insurance reforms Florida has seen in decades to provide short- and long-term relief to Floridians to combat skyrocketing insurance costs. A one pager on the insurance reforms can be found here.
Additionally, Governor DeSantis signed legislation which modifies structural inspection and financial reserve requirements for condominium associations.
“This package represents the most significant reforms to Florida’s homeowners insurance market in a generation,” said Governor Ron DeSantis. “These bills will help stabilize a problematic market, help Floridians harden their homes through the My Safe Florida Home Program, and pave the way for more choices for homeowners.”
“I’m grateful that Governor DeSantis called lawmakers to convene this week to pass legislation that will help rein in insurance rates, provide premium savings to Floridians, and aid in hardening homes against storms,” said Chief Financial Officer Jimmy Patronis. “I remain committed to fighting insurance fraud and bolstering our investigative services to further support our efforts to protect consumers.”
Senate Bill 2D, signed by Governor DeSantis today, enacts pro-consumer measures to help alleviate rising insurance costs, increases insurance claim transparency, and cracks down on frivolous lawsuits which drive up costs for all Floridians. Specific provisions to stabilize the market include:
Senate Bill 4D, also signed today, includes reforms to increase the safety of condominiums.
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