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Sen. Jim Boyd, R-Bradenton. Credit: Florida House of Representatives Sen. Jim Boyd, R-Bradenton. (Credit: Florida House of Representatives)

On April 7, the Florida Senate passed a bill that addresses litigation cost drivers in the property insurance market and helps restore balance to Florida’s civil justice system

Supporters of the bill (SB 76) said lawmakers need to approve it to curb soaring insurance rates for homeowners. They said private insurers are grappling with large financial losses that have led to rate increases and customers shifting to the state-backed Citizens Property Insurance Corp. for coverage.

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