Florida Insurance Costs Drop 14.5% After Major Reforms, New Report Finds
Florida’s sweeping 2022 and 2023 legislative reforms are doing more than calming the state’s turbulent insurance market—they’re reshaping the economic landscape. According to a powerful new analysis from the Perryman Group, property‑casualty insurance costs in Florida are now 14.5% lower than they would have been without the reforms.
The update arrives after years of soaring premiums, insurer failures, and widespread concern that the state’s insurance market was reaching a breaking point. Now, the numbers reveal something Floridians haven’t seen in years: real relief.
Billions Flowing Back Into Florida’s Economy
The Perryman Group—a respected, non-partisan economic research firm—reports that the insurance cost reductions are responsible for generating more than $4.2 billion in economic activity statewide. Even more striking: over 29,000 new jobs have been created as a result.
“Florida’s tort reforms are achieving exactly what policymakers intended,” said Stef Zielezienski, executive vice president and chief legal officer for the American Property Casualty Insurance Association. According to APCIA, the reforms have eased excessive litigation pressures, encouraged insurers to re-enter the market, and slowed the once‑explosive rise of premiums for consumers and businesses alike.
Premiums Finally Cooling After Years of Increases
Fresh data from the Florida Office of Insurance Regulation adds even more support. Among the 16 largest property insurers in the state, average residential premiums rose less than 1% in 2025—an astonishing improvement compared to the back‑to‑back years of double‑digit increases.
Even better: ten of those carriers actually lowered their premiums last year, with reductions as significant as 11%. After a decade of turbulence, this marks a notable step toward true market stability.
Lower insurance costs affect far more than homeowners. They ripple outward—boosting commercial development, empowering small businesses, and strengthening long‑term economic health across Florida.
For professionals in industries like insurance, real estate, finance, and beyond, understanding these shifts is essential. Schools such as Cameron Academy play a pivotal role by helping Florida professionals stay educated, licensed, and prepared for rapid changes in the market.
As the Perryman analysis highlights, these benefits are expected to grow exponentially over time, supporting a stable legal environment and fueling sustainable statewide economic expansion.
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A new Perryman Group analysis shows Florida’s 2022–2023 insurance reforms are paying off, lowering property‑casualty costs by 14.5% and generating more than $4.2 billion in economic activity. With over 29,000 jobs created and premium increases nearly flat in 2025, the state’s long‑troubled insurance market is finally stabilizing as major carriers reduce rates and return to the market.
