TALLAHASSEE, Fla. — The American Property Casualty Insurance Association (APCIA) today released the following statement attributed to its assistant vice president of state government relations, Logan McFaddin, regarding measures that today passed the Senate Banking & Insurance Committee.
Senate Bill 914, by Senator Jeff Brandes, relating to Property Insurance
“APCIA thanks the members of the Senate Banking & Insurance Committee for passing SB 914 out of its committee today. By setting guidelines for reasonable attorney fees and hours spent on a claim, this measure is a step in the right direction for overall legal reform in Florida.
“Florida’s legal climate is one of the worst in the nation. This bill addresses lawsuit abuse that is driving up costs for Florida businesses and consumers, paving the way for a more fair and balanced system.”
Senate Bill 1376, by Senator Doug Broxson, relating to Credit for Reinsurance
“APCIA has supported legislation that redefines a credit for reinsurance in various states across the country. Today, we thank the Senate Banking & Insurance Committee for advancing SB 1376 by Senator Broxson.
“This good bill provides necessary updates to our state’s reinsurance laws as it relates to the jurisdiction and governing process, as well as protecting insurers against reinsurance failure. APCIA looks forward to working with the legislature, as well as the Office of Insurance Regulation to pass meaningful reforms like SB 1376.”
Both SB 914 and SB 1376 have also been referred to the Judiciary Committee and Rules Committee in the Senate.