Florida rate cuts highlight litigation’s role in insurance affordability
Wilson framed tort reform as part of a broader affordability challenge facing the auto insurance sector. According to Allstate, since 2020, bodily injury costs have increased nearly 47%, injury costs have increased nearly 52%, and the cost of uninsured and underinsured motorist claims has increased 72%. At the same time, industry underwriting profitability remains near zero. These pressures make it necessary for regulators and lawmakers to focus on cost drivers rather than short-term price controls, he said.
