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 Senate Bill 378 by Senator Tom Lee, which passed out of the Senate Infrastructure and Security Committee today.
“Senate Bill 378 repeals Florida’s no-fault system and does not contain critical fixes to stop the rampant abuse of Florida’s bad faith law.
“In 2017 alone, Florida’s broken tort system had a $6.6 billion impact on premium costs. Without addressing much needed bad faith reforms, Senate Bill 378 does not protect consumers from rising costs or remedy the laws that have led to an overburdened court system.
“Lawmakers should amend SB 378 to implement meaningful bad faith reforms that will combat rampant litigation abuse, ensure policyholders’ rights are protected, and help lower costs for all Floridians.
“APCIA appreciates Senator Tom Lee’s willingness to consider bad faith reforms as the bill moves through the legislative process. We look forward to working with Senator Lee and other members on this important issue.”
SB 378 has also been referred to the Banking and Insurance and Appropriations Committee in the Senate.