Sunshine Sentinel

Mike Caruso, a state representative for Florida's District 87, expressed his opposition to HB 1551, stating that the bill would increase insurance costs, undo rate stabilization progress, and lead to more litigation for Floridians. He conveyed this stance in a post on the social media platform X on March 28.

"This is a bill that per the bill analysis itself ‘will increase insurance costs for Floridians," said Caruso. "Floridians deserve better than higher premiums and more litigation. I won't sell out our state to special interests."

The Florida Senate has reported that the state's property insurance market has evolved following legislative reforms enacted in 2022 and 2023. These reforms were designed to reduce litigation and attract new insurers by implementing changes to attorney fee structures and pre-suit notice requirements. HB 1551 aims to modify current statutes concerning attorney fee awards in insurance actions, including provisions allowing the prevailing party in a dispute to recover fees.

According to Florida Realtors, these legislative reforms have led to signs of stabilization within Florida's property insurance market. The Insurance Information Institute noted a significant decline in claims-related litigation and a slowdown in premium growth over the past two years. In addition, 11 new property insurers entered the Florida market in 2024, while Citizens Property Insurance Corporation reduced its policy count by nearly 40%, indicating increased participation from private insurers.

Insuring Florida reported that as of 2025, Florida’s homeowners insurance market continues to face challenges with rising premiums due to inflation, increased rebuilding costs, and ongoing storm risk exposure. Several insurers have exited the market or reduced their underwriting footprint, resulting in fewer options and greater market concentration. Within this context, HB 1551 proposes changes to attorney fee provisions in insurance disputes that could impact insurer operations and cost structures.

Caruso was first elected to the legislature in 2018 representing what was then District 89. He holds a Bachelor of Business Administration in Accounting from George Washington University and is a certified public accountant with experience in financial services. A resident of Delray Beach, Florida, Caruso has participated in legislative committees focused on issues such as insurance, appropriations, and government operations according to the Florida House.