Insurance prices continue to rise in Florida, and policies are getting harder for everyday Floridians to afford. Thankfully, there’s something we can do about it.
Right now, Florida allows for lawsuits called “third party bad faith” cases. While trial lawyers across the state would tell you that most cases are about people who have been wronged by insurance companies receiving compensation, the truth is that many cases are actually about lawyers getting compensation. Loopholes allow for excessively bloated and vague claims that lead to extended and expensive courtroom battles.
As the legal bills pile up for insurance providers, they’re forced to raise rates. Allowing for so many frivolous bad faith claims is putting stress on people across the state, and it needs to stop. It’s time for our elected officials in Tallahassee to step up and fix the loophole to change our reputation from “Judicial Hellhole” back to “Sunshine State.”
John R. Smith, Chairman, Business Political Action Committee of Palm Beach County