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Florida’s insurance market stabilizing — now is not the time for more reforms

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For years, Florida’s insurance market faced a crisis, with skyrocketing premiums and insurer insolvencies leaving homeowners with few options. Thanks to landmark reforms championed by Gov. Ron DeSantis and the Legislature, the tide is finally turning. These strategic policy changes have brought much-needed stability, attracted new insurers, and provided homeowners with more choices.

Given this progress, now is not the time to disrupt the market with untested reforms. Stability takes time, and the full effects of recent legislation must be allowed to take hold. When Florida lawmakers convene their next two-month session on March 4, they should resist the urge to enact further changes that could derail the positive momentum we have seen so far.

The evidence speaks for itself. In 2023 alone, more than 10 new property and casualty insurers entered the Florida market, giving consumers increased options and fostering a more competitive landscape. A stable insurance environment encourages more capital investment, ultimately benefiting consumers. However, regulatory changes at this stage could deter new entrants and potentially drive up costs for policyholders.

Even more encouraging, the market has seen 12 consecutive months of underwriting improvement, with the potential for rate reductions on the horizon. Since January 2024, 17 companies have filed for rate decreases, and 34 companies have requested 0 percent increases. As these reductions accumulate over time, consumers will benefit from increased competition, leading to more affordable rates and, most importantly, a financially viable market. These transformational changes demonstrate that recent reforms are working as intended and delivering the expected rate relief for consumers. When these measures were enacted, legislative leaders cautioned that the impact would not be immediate — it would take time for the systemic changes to stabilize the market and lower insurance rates.

The real challenges facing Florida’s insurance market stem from external pressures, including natural disasters, rising reinsurance costs, and past litigation abuse. Recent hurricanes have caused widespread damage, increasing claims costs and straining insurers financially. To manage risk and keep coverage affordable, insurers rely on reinsurance — but reinsurance costs in Florida have surged, making it more expensive for insurers to operate. Misconceptions about insurer profitability or affiliated transactions often overlook the significant expenses of running a property insurance company, including reinsurance, claim payouts, and operational costs. In reality, most insurers operate on tight margins and must engage in responsible financial management to remain viable. The Office of Insurance Regulation has a robust financial oversight framework to regulate affiliated party transactions and prevent unlawful or excessive asset distributions, contrary to some recent assertions in the media.

Excessive litigation was a major driver of Florida’s past insurance crisis. Recognizing this, lawmakers enacted strong reforms to curb litigation abuse and promote market stability. At the same time, they enhanced the Insurance Commissioner’s ability to hold insurers accountable. If companies fail to properly adjust and promptly pay claims, Commissioner Yaworsky now has a dedicated Deputy Commissioner and a proactive team tasked with enforcing insurers’ claims-paying responsibilities. Additional regulatory changes at this juncture would be premature and could introduce further uncertainty and disruption.

Given Florida’s heavy reliance on catastrophe reinsurance, lawmakers may want to consider harmonizing the state-created Florida Hurricane Catastrophe Fund with the private reinsurance market to serve as a stabilizing buffer during periods of stress and volatility. While future legislation may be necessary or desirable, for now, it is essential to let the reforms work and allow the Office of Insurance Regulation to collect the necessary data to guide informed legislative decisions.

The Legislature has enacted comprehensive, thoughtful reforms to stabilize a struggling property insurance market. Now, the best course of action is to allow these measures to take full effect. By maintaining a steady approach and fostering a competitive, stable insurance market, lawmakers can continue to protect Florida homeowners and support a resilient insurance industry.

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Kevin McCarty is a former Florida Insurance Commissioner who served from 2003 to 2016. With decades of experience in insurance regulation and policy, he played a key role in shaping Florida’s insurance landscape. McCarty is a nationally recognized expert on insurance market stability and risk management, advising industry leaders and policymakers on best practices for maintaining a competitive and consumer-friendly market.


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George Moraitis announced campaign against Jared Moskowitz in CD 23

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Former state Rep. George Moraitis is planning to challenge U.S. Rep. Jared Moskowitz for his seat in Congress.

Moraitis said he’s running in Florida’s 23rd Congressional District as a “proven conservative leader.” The U.S. Naval Academy graduate said he would bring a record of bipartisan success to serving South Florida in Washington.

“I have spent a lifetime in service to our nation and community, and I am running for US Congress to serve our nation, restore the American dream for our citizens, and protect our God-given freedoms upon which our country was founded,” the Fort Lauderdale Republican said.

“As a former state legislator, I’ve seen firsthand how the government can be a force for good – but also how it can fall short. It’s time to bring new leadership to Washington that’s willing to make tough decisions and put the interests of our citizens first.”

Moraitis served in the Florida House from 2010 until 2018 when term limits prevented him from running again. In his last term, he was an alternative Chair of the House Administrative Procedures Committee and Vice Chair of the powerful House Appropriations Committee.

He stressed his time in the U.S. Navy and as an attorney, saying his career has long been focused on public service. He practices law with his father at Moraitis, Karney, Moraitis & Quailey in Broward County.

“I’m ready to take my proven leadership and common-sense approach to Congress and will work tirelessly to get things done,” Moraitis said. “Washington is broken, and it’s time for a change. I will stand strong for the values that make our country great, and I will always put the people of Florida first.”

He said his agenda includes prioritizing economic growth, fiscal responsibility, strengthening national security and protecting the American way of life.

Moraitis is the second Republican to file to challenge Moskowitz, after perennial candidate Darlene Swaffar.

Moskowitz, a Parkland Democrat, won election in 2022 by the smallest margin of any candidate in Congress in Florida that year, then won re-election over Republican Joe Kaufman last year with 53%.


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LSN Partners promotes Karem Sandgarten to CFO

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Sandgarten’s background spans a host of financial experience, including in corporate planning, tax and revenue management, and financial analysis.

LSN Partners has promoted Karem Sandgarten to Chief Financial Officer.

Sandgarten joined the firm last April as a Comptroller, and the firm said she delivered “immediate and measurable results.”

As part of her promotion, Sandgarten will also serve as CFO for LSN Law.

Sandgarten will replace Tiffany Zientz Heckler, who is stepping down from her role. Heckler will remain active with the firm as a board member. Heckler has served as the firm’s CFO since its inception in 2010.

Sandgarten has had a distinguished career in financial management and business administration and promoting her “was an obvious decision,” said Alex Heckler, the firm’s founder and managing partner.

“Karem’s strategic awareness and financial insight have already strengthened our operations, and we look forward to her leadership as we continue to shape LSN’s future,” he added.

LSN Partners is a full-service, bipartisan consulting firm that offers strategic advice and advocacy related to government affairs, government procurement, emergency management, business development and communications.

Sandgarten’s background spans a host of financial experience, including in corporate planning, tax and revenue management, and financial analysis. Sandgarten prides herself on a results-driven approach that helps navigate complex financial landscapes. The firm hopes her experience will strengthen its operations and drive sustainable growth.

Prior to working with LSN, Sandgarten has held a number of leadership roles, including as Executive Director for Beth David; CFO for the University of Miami Hillel and CEO of Riesgo Cero Company in Argentina. She has a track record of proficiency in optimizing financial processes, improving efficiency and enhancing performance.


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Last Call for 3.3.25 – A prime-time read of what’s going down in Florida

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Last Call – A prime-time read of what’s going down in Florida politics.

First Shot

Outnumbered Democrats acknowledge that bills to expand Medicaid, raise teacher pay, and protect unions are long shots to pass this Legislative Session, but they are still trying to push their agenda in hopes it catches Republicans’ attention.

House Democrats described the “Putting Floridians First Agenda” as a set of commonsense bills that “fight for every Floridian’s freedom to be healthy, prosperous, and safe.” The slate includes measures addressing the housing crisis, public safety, education, worker protection and health care access.

House Democratic Leader Fentrice Driskell acknowledged that many of the proposals were longshots in the Republican-controlled Legislature but expressed hope snippets of them could be included in legislation that moves.

“It’s important to push the conversation, and that’s what we’re doing. Besides, Democratic ideas get poached all the time, so you never know when one of the concepts in these pieces of legislation might show up in a bill that gets heard on the floor,” she said.

The lineup includes a Medicaid expansion bill by Rep. Dotie Joseph (HB 1507). Estimates indicate that under such legislation, about 500,000 Floridians would become eligible for Medicaid.

“Florida is one of about a dozen states that has refused to expand Medicaid, and because of that, over 2.4 million Floridians … are uninsured,” Joseph said. “That’s the fourth-highest rate in the nation.“

Democrats are also championing legislation (HB 1019) that would add new restrictions on “ghost guns,” which are weapons without serial numbers that are assembled together in a kit or pieces and a measure (HB 1177) that would strengthen unions and add heat safety protection for outdoor workers.

Read more on Florida Politics.

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Equal Ground and other left-leaning advocacy organizations will hold a media roundtable Tuesday outlining their top legislative priorities and responding to Gov. Ron DeSantis’ State of the State address.

In a news release, Equal Ground criticized the recent Special Sessions on immigration for their “performative politics” and for doing “nothing to address Floridians’ real concerns”

“On the first day of the Florida Legislative Session, and at a critical moment amid attacks on rights across the country — including current attempts from the Congress to suppress voters — Equal Ground and partners are coming together to push back on the false promises and rhetoric from Florida leaders and to demand lawmakers enact policies that support communities,” the news release states.

The roundtable will feature Equal Ground Executive Director Genesis Robinson, American Civil Liberties Union Senior Strategist Abdelilah Skhir, Pamela Burch Fort of the National Association for the Advancement of Colored People, Johnathan Webber, Southern Poverty Law Center Policy Director; All Voting is Local Action Florida State Director Brad Ashwell, Common Cause Florida Executive Director Amy Keith, Florida Rising Chief Advocacy & Political Officer Moné Holder, Florida Education Association President Andrew Spar, League of Women Voters co-President Debbie Chandler and Florida Watch Deputy Director Natasha Sutherland.

The press conference will begin at 1:30 p.m. at the Florida Education Association office, 213 South Adams St., Tallahassee.

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The Towing and Recovery Association of America and Randy Meyer Racing will launch an awareness campaign promoting state and federal “Move Over” laws during a news conference on Tuesday at the Florida Capitol.

The news conference, slated for 2 p.m., will feature Sen. Ana Maria Rodriguez and officials from the Florida Highway Patrol, Florida Highway Safety Office, Florida Department of Transportation, Tallahassee Police Department, Tallahassee Fire Department and the Towing and Recovery Association of America.

Megan Meyer, a two-time NHRA World Champion professional race car driver, will also be on hand. The event will also feature the Randy Meyer Racing team’s ‘Slow Down Move Over’ Nitro Dragster, which is making its way down to Gainesville for the NHRA GatorNationals.

The campaign aims to boost public awareness of “move over” laws. Florida’s “Move Over” law requires motorists to move over a lane or, if that is not possible, slow down to 20 miles per hour below the posted speed limit when passing a stopped vehicle displaying warning lights and any disabled vehicle on the side of the road.

There are similar laws on the books in every state and in D.C.

Evening Reads

—”The weirdness around Donald Trump’s ‘U.S. Crypto Reserve’ announcement” via Andrew Prokop of Vox

—”Would Americans accept Trump’s concessions to Russia?” via Aaron Blake of The Washington Post

—”Trump’s embrace of Russia rocks NATO alliance” via Daniel Michaels of The Wall Street Journal

—”Where Jeff Bezos went wrong with The Washington Post” via Martin Baron of The Atlantic

—”Florida is in for a ‘Trumpy Session,’ political analysts say, as legislators gather in Tallahassee” via Jeffrey Schweers of the Orlando Sentinel

—”A festival of foolishness and toxicity” via Diane Roberts of the Florida Phoenix

—”Lawmakers move to curb prosecutors’ powers after Herald series on juvenile penalties” via Shirsho Dasgupta of the Miami Herald

—”Andrew Tate rips Ron DeSantis for caving to media pressure” via The Associated Press

—”Florida is waging a fight over fluoride in drinking water. Where does your county stand?” via Cindy Krischer Goodman and Uma Raja of the South Florida Sun-Sentinel

—“Sources: FSU, Clemson expected to reach settlement with ACC” via Andrea Adelson, David Hale and Pete Thamel of ESPN

—“How Florida teams stand in hunt for NCAA Tournament bids” via Cole Pepper of Florida Politics

—”Former Congressman and prominent Miami politico Lincoln Díaz-Balart dies at 70” via Jesse Scheckner of Florida Politics

Quote of the Day

“No one is more keenly aware of the numbers in Tallahassee than us, and we know that these bills are not likely to move.”

— House Democratic Leader Fentrice Driskell, on her caucus’ 2025 legislative agenda.

Put it on the Tab

Look to your left, then look to your right. If you see one of these people at your happy hour haunt, flag down the bartender and put one of these on your tab. Recipes included, just in case the Cocktail Codex fell into the well.

Bettors say there’s a 66% chance Casey DeSantis runs for Governor in 2026. As for whether she can best a Trump-backed candidate … we’re still recommending an Against All Odds.

A Two-by-Four would be a fitting drink to help Kelvin Enfinger celebrate his new gig chairing Associated Builders and Contractors of Florida.

A bill (SB 126) moving through the Senate would help the hard of hearing avoid the Cocktail Party Effect, and that’s worth raising a round of your spirit of choice.

Breakthrough Insights

Tune In

Panthers host Lightning tonight

Florida’s two NHL teams face off in Sunrise in a game with playoff implications as the Tampa Bay Lightning visit the Florida Panthers (7 p.m. ET, FanDuel Sports Network Sun and Scripps).

The two teams are separated by three points in the Atlantic Division standings, with just over 20 games remaining for each team. The Panthers (37-21-3, 77 points, 2nd place) have played 61 games, while the Lightning (35-20-4, 74 points, 3rd place) have played 59 of 82 regular season games. 

Both teams are playing outstanding hockey. Florida has won three straight and eight of the last 10 games, while Tampa Bay has won eight straight after losing more games than they won in January.

Part of Tampa Bay’s turnaround can be attributed to the hot streak of left winger Brandon Hagel, who scored seven goals and added six assists during the last seven games in February. Hagel’s contributions have bolstered right winger Nikita Kucherov, who ranks third in the NHL, scoring 87 points this season. 

Florida has been the more consistent team this season. The Panthers have endured a losing streak of more than two games only once this season, in late November. Since then, Florida has won 23 of 37 games, and they have not dropped consecutive regulation games since late December. 

The Sunshine State rivalry saw the two teams split games in December with Florida winning at Tampa Bay 4-2 on Dec. 22 and the Lightning gaining revenge the following day in South Florida 4-0. After tonight’s game, the two teams are scheduled to meet once more, in the regular season finale on April 15. 

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Last Call is published by Peter Schorsch, assembled and edited by Phil Ammann and Drew Wilson, with contributions from the staff of Florida Politics.


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