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 PCB CJS 20-01, by the Florida House Civil Justice Subcommittee, relating to Litigation Financing Consumer Protection.
“APCIA thanks the members of the House Civil Justice Subcommittee for advancing legislation today that creates the Litigation Financing Consumer Protection Act.
“With Florida having one of the worst legal climates in the country, it is imperative we look at all avenues to enhance our civil justice system and bring relief and protection to Florida consumers. PCB CJS 20-01 would do just that.
“By providing regulations for litigation financers, including registration requirements, capping interest rates, fees and charges to consumers, and subjecting litigation financiers to the Florida Deceptive and Unfair Trade Practices Act, the Florida House has taken important steps to protect consumers.
“We look forward to working with our elected officials to pass meaningful tort reform this session.”
In the Senate, Senator Broxson’s SB 1828, which is very similar to PCB CJS 20-01, has been referred to the Senate Banking & Insurance, Judiciary and Rules Committees.