Hurricane Ian destroyed homes in a Florida residential area. Credit: bilanol/Adobe Stock Florida Defense Firms Adapt as Insurers Exit and Tort Reforms Limit Claims
Insurance work has shrunk as a consequence of the state's insurance crisis and recent legislative changes. But some firms are still hiring, betting that top lawyers will attract lucrative matters.
April 17, 2024 at 02:46 PM
6 minute read
What You Need to Know
- Florida's insurance defense practices have seen an apparent slowdown in recent years.
- The state has been grappling with an insurance crisis that's forcing many insurers out of the state, while new laws have limited lawsuits against insurers.
- While the volume of work is narrowing, some firms have been thriving thanks to practice diversification and exclusive client relationships.
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.
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