Many Florida property insurers are seeking double-digit rate hikes citing ballooning reinsurance costs, “loss creep” from 2017-18 hurricanes, coastal flooding and litigation.

Florida lawmakers have attempted to slow the surges with their 2019 adoption of an “assignment of benefits” reform bill and this year’s approval of Senate Bill 76, which slashes time to file claims from three years to two, reduces attorney “multiplier fees” and allows insurers to cover only the depreciated rather than the full value of replacing roofs more than 10-years-old.