Ron DeSantis, Governor of Florida, said that the state’s insurance and tort reforms have reduced frivolous litigation, attracted new companies, and resulted in lower rates and rebates for policyholders. He highlighted these achievements during a business mission to Bermuda.
“This week I was joined by Florida Office of Insurance Regulation and Select Florida for a business development mission in Bermuda,” said Ronald Dion Desantis. “We reaffirmed and strengthened our economic ties and provided updates on Florida’s improving insurance market following our historic reforms. Florida’s deliberative approach to market stabilization has produced results—a reduction in frivolous litigation, an influx of new companies into the state, and lower rates and rebates for policyholders.”
Florida’s insurance market had been grappling with rising premiums, insolvencies, and lawsuit abuse before DeSantis and lawmakers implemented a series of reforms between 2022 and 2023. These included the comprehensive tort bill HB 837, which aimed to deter frivolous claims by tightening attorney-fee rules, curbing one-way fee statutes, shortening the statute of limitations for negligence, and moving Florida to a modified comparative negligence standard. During a 2025 business development mission to Bermuda with the Florida Office of Insurance Regulation and SelectFlorida, DeSantis pointed to these reforms as the foundation for a resurgent market reliant on strong ties with global reinsurers based on the island.
According to DeSantis and regulators, there have been significant consumer gains since the 2023 tort reforms. In October 2025, DeSantis announced that Progressive would refund nearly $1 billion to Florida auto policyholders, with average rebates around $300 per driver. He credited litigation reform and improved loss costs for this development. The Florida Office of Insurance Regulation reports that the state’s five largest auto insurers have reduced rates by about 6.5% on average this year. Major carriers such as State Farm have filed double-digit percentage cuts for many customers. Editorial analysis describes these refunds and reductions as a “tort reform dividend” benefiting Florida drivers as lawsuits decrease and legal costs are controlled.
Property insurance indicators also show stabilization following Florida’s reforms. According to the Florida Office of Insurance Regulation, 29 homeowner companies filed for rate decreases while 44 requested no increase or a 0% change since early 2024. This has provided relief to millions of homeowners after years of sharp hikes. Regulators note that Florida recorded the lowest average homeowners rate increase in the nation in 2024 at roughly 1%, while private capital has returned and new insurers continue to enter the market. Independent analyses cite at least a dozen new property carriers admitted between 2024 and 2025, underscoring how tort and market reforms have restored enough confidence for companies to expand or re-enter Florida.
Ron DeSantis is serving as the 46th governor of Florida after being first elected in 2018 following his tenure as a U.S. Navy JAG officer and three-term Republican member of Congress. A graduate of Yale University and Harvard Law School as well as an Iraq War veteran, he has advocated for low taxes, school choice, law-and-order policies, and an aggressive economic-development agenda that has positioned Florida as an attractive destination for families and businesses.
