Property insurance market crisis looms over Florida

High litigation fees are public enemy No. 1 in the complex marketplace, say multiple industry leaders and officials.

Critics say if changes are not made to the way lawyers are paid for property insurance claims, the entire system could collapse. (File photo)
Critics say if changes are not made to the way lawyers are paid for property insurance claims, the entire system could collapse. (File photo)
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Fees lawyers are allowed to collect when filing insurance claims are helping push an already precarious property insurance system in Florida to the brink, causing rates to skyrocket and leaving the state one big storm away from total catastrophe.

 

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