"The new law is expected to reduce costs by reducing the amount of litigation, however, three active hurricane seasons in a row also impact insurers costs, especially as it relates to reinsurance rates, which are also increasing," said Logan McFaddin, Southeast regional director for APCIA
"Turning back the clock and reopening settlements from 12 years ago might pad lawyers' pockets, but it would also disrupt the insurance marketplace and harm consumers and the economy," said APCIA
Southeast Region vice president Ron Jackson.
Industry advocates, including the CPC and APCIA, have encouraged lawmakers to include auto glass in the final legislation.
"Addressing AOB abuse is vital to putting a stop to the number of AOB lawsuits filed in Florida, which are only growing steeper with each passing year and resulting in higher insurance costs," said Logan McFaddin, APCIA regional manager of State Government Affairs.
Insurer trade group APCIA (the American Property Casualty Insurance Association) has also expressed its support of SB 754, as it has seen the number of AOB auto glass lawsuits skyrocket from 400 in 2006 to 20,000 in 2016.
APCIA praised the House for passing HB 7065 even without the auto glass provision.
Wes McClelland, vice president of federal government relations at the American Property Casualty Insurance Association (APCIA
), called the bill a "good first step" to giving insurers clarity.
Insurer trade group APCIA
said it supports this bill, as the number of AOB auto glass lawsuits has skyrocketed from 400 in 2006 to 20,000 in 2016.
Logan McFaddin, Southeast regional manager of industry trade group APCIA
, said there is frustration among the industry about what exactly lawmakers need to hear to make reform happen because the clear data from the state's regulator, victim stories and contractor expertise are "just not resonating with current legislators."