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 House Bill 7041, by the Florida House Civil Justice Subcommittee, relating to Litigation Financing Consumer Protection.
“APCIA applauds the House Appropriations Committee for passing HB 7041, which creates the Litigation Financing Consumer Protection Act.
“HB 7041 contains strong consumer protections, such as capping interest rates, fees, and charges and subjecting litigation financiers to the Florida Deceptive and Unfair Trade Practices Act. Together, this will go a long way toward improving Florida’s deteriorating legal climate.
“APCIA looks forward to continuing to work with policymakers to pass meaningful legal reform this session.”
HB 7041 has already passed the Florida House Civil Justice Subcommittee and has also been referred to the House Commerce Committee. In the Senate, Senator Broxson’s SB 1828, which is very similar to HB 7041, has been referred to the Senate Banking & Insurance, Judiciary and Rules Committees.