Florida’s ongoing insurance crisis is causing insurers to rely less on outside counsel, as their peers go insolvent and insurance rates explode across the state.
As underwriting losses have been piling up in the billions in Florida thanks to hurricanes and flooding, the state has seen nearly a dozen insurers abandon the state over the last two years with others liquidating. In addition, Gov. Ron DeSantis signed a bill last year limiting the ability to sue insurers over unpaid claims. The mix has led to less insurance defense work for some law firms, according to firms competing in the space.
