Florida’s Insurance Reform Lesson for New York

DeSantis’s success, with auto insurers slashing premiums, could be a model for Hochul

WSJ editorial. Excerpts:

"premiums are falling in states that have eased burdensome insurance rules and taken steps to curb excessive litigation and fraud."

[Florida] "enacted a package of legal reforms in 2022 and 2023 that cracked down on unscrupulous medical providers who work with plaintiff attorneys to bilk insurers. In 2021 Florida insurers faced claims of $7.8 billion in damages, versus $2.4 billion in the other 49 states combined."

"several auto insurers have filed for premium reductions"

"State Farm has slashed premiums by 20% in total since 2024. Progressive said last fall it would refund policyholders $1 billion."

"the state’s [New York] no-fault rules, which let individuals claim damages for injuries and vehicle damage from their insurer regardless of who’s to blame for an accident. Get this—a shooter can claim damages from his insurer if he gets into an accident while fleeing from a crime." 

"Injuries are often faked or exaggerated. Unethical doctors bill insurers for expensive and unnecessary treatments."