Insurance leaders, observers praise improvements in Florida’s market. Will it help policyholders?

Florida's insurance market shows improvement, with a significant drop in lawsuits and lower rate increases for property insurance. Despite still having the highest premiums in the U.S., the state has seen a 56% decrease in lawsuits compared to 2021, thanks to legislative reforms aimed at reducing legal fraud. Citizens Property Insurance Corp. has also reduced its policyholders to under one million. However, policyholders remain concerned about high costs and the need for better communication from the insurance industry regarding these changes.