Florida price cuts spotlight litigation’s position in insurance coverage affordability
Wilson has framed tort reform as a part of a broader affordability problem dealing with the auto insurance coverage sector. Since 2020, bodily harm prices have climbed roughly 47%, harm prices have risen about 52%, and uninsured and underinsured motorist claims prices have jumped 72%, in line with Allstate. On the similar time, business underwriting profitability stays near zero. These pressures, he stated, make it important for regulators and lawmakers to concentrate on price drivers moderately than short-term value controls.
