The movement to end lawsuit abuse is spreading across the country, with a group of bipartisan governors taking up the cause – including New York Governor Kathy Hochul. At a news conference today, she said:

Now, Florida had a similar problem. I don’t usually model anything we do after Florida. I just want to put that out there. But they implemented similar reforms just like I’m talking about. 

Indeed, in 2023, Florida passed landmark lawsuit abuse reform legislation. Now three years later, a new study highlights that the promise of these reform laws is being fulfilled. According to a new Perryman Group report, Florida’s lawsuit abuse reforms have “rebalanced Florida’s civil justice system by reducing excessive litigation costs and, by extension, lowering insurance costs for the average Floridian.”

By passing lawsuit abuse reform, the Perryman Group calculates that Florida’s property and casualty insurance costs have decreased by approximatedly 14.5%. This huge savings has led to billions in additional economic benefits and thousands of jobs:

The economic ripple effects are substantial. The report estimates the reforms generate more than $4.2 billion in annual gross product statewide and support thousands of jobs. The impacts on the treasury are also significant, with the law producing an estimated $206.6 million in additional state revenues and $155.3 million for local governments.

Florida’s recent success has not gone unnoticed. States across the country are taking note, particularly New York, where drivers have long faced some of the highest auto insurance rates in the country. As the new Perryman Group study shows, in Florida, reforms have delivered meaningful relief for working families across the state. If New York embraces similar reforms, it has the opportunity to replicate Florida’s success and lower costs for New Yorkers across the Empire State.