Florida rate cuts highlight litigation’s role in insurance affordability
Wilson has framed tort reform as part of a broader affordability challenge facing the auto insurance sector. Since 2020, physical damage costs have climbed roughly 47%, injury costs have risen about 52%, and uninsured and underinsured motorist claims costs have jumped 72%, according to Allstate. At the same time, industry underwriting profitability remains close to zero. Those pressures, he said, make it essential for regulators and lawmakers to focus on cost drivers rather than short-term price controls.
