Governor Ron DeSantis of Florida (R) has convened a special legislative session to discuss proposals to make property insurance more affordable within the state. Continue reading to learn about the property insurance in Florida and how an experienced real estate litigation attorney can help you overcome ownership, construction, and insurance disputes should they arise. 

DeSantis Calls For May Legislative Session 

DeSantis has scheduled a special session in a pronouncement to address a variety of concerns regarding the state’s current insurance industry. DeSantis is considered a major contender for the Republican presidential nomination in 2024. The special session in Florida will begin on May 23rd and go through May 27th. 

Issues At Hand Described By the DeSantis Administration 

Per DeSantis’ administration, the issues that will be brought forth during the special session include allegedly “frivolous” lawsuits. Although Florida only constitutes 9% of the nation’s total number of homeowners’ insurance claims, it accounts for a staggering 79% of the country’s homeowners’ insurance lawsuits. Other issues to be addressed include $2B in underwriting losses over a two-year period and the bankruptcy of four homeowners’ insurance providers. The state will also decide if it should act to stabilize the insurance market as a whole.  

Assured Research Makes a Statement 

“The order doesn’t mention the possible downgrade of ‘a number of companies’ as dominant. But we suspect the downward spiral of the publicly traded parent of FedNat Insurance Company following its April downgrade to ‘S’ (Substantial) from ‘A’ (Exceptional).” The company continued, stating that “if a substantial hurricane makes landfall in FL this season the problems could be worse, though we suppose the state could leverage its public finance mechanisms (e.g., a bond issuance or tapping the FHCF in creative ways) to make homeowner’s whole – it is an election year for the FL Governor, after all.”

How to Get Help Fighting a Real Estate or Insurance Dispute In Florida  

Are you involved in a real estate or insurance dispute in South Florida? Don’t hesitate to get the legal representation you need to ensure the outcome of your case is successful. Reach out to Florida real estate litigation law firm Feinstein Real Estate Litigation & Business Law at 954-767-9662 today for a consultation to discuss the specifics of your case. We can help protect your Florida business and real estate holdings under the law and to the best of our abilities.