Gov. Ron DeSantis said the state's 2022–23 litigation reforms have helped lower insurance costs and that Progressive Insurance has agreed to provide almost a billion dollars in credits to Florida auto policyholders, an amount the governor said would average roughly $300 per policyholder.

DeSantis credited the litigation reforms for reductions in legal and administrative costs and said Insurance Commissioner Mike Yaworski secured the Progressive credit. "He has secured almost a billion dollars in credits for progressive auto insurance policyholders," DeSantis said. "The average across Florida policyholders is gonna be a $300 rebate, and that's just for Progressive."

The governor and Yaworski said the move follows declines in litigation expenses and filings by major auto insurers. DeSantis said the top five personal auto writers in Florida have averaged a 6.5% reduction in rates, citing individual filings including Allstate (7% decrease), Liberty Mutual (5% decrease) and State Farm (4.7% decrease). He said Progressive had also filed for additional rate reductions that could total 15%–20% for some policyholders over the coming year.

"The billion dollars I want to commend Progressive particularly for coming to the table first, to work with us, to negotiate this, to get dollars back to consumers faster," Yaworski said, adding that the Office of Insurance Regulation has increased market conduct activity and returned funds to consumers when it found errors in insurer payments.

Officials described related movement in the homeowners insurance market. Yaworski and DeSantis said since January 2024 dozens of insurers filed for rate decreases or no-change filings: 33 companies had filed for rate decreases and 46 requested no change or 0% change, the governor said. The governor said Peninsula filed what he described as a historically large company decrease request (8.4% statewide, with a 12% decrease for condominium policies). DeSantis said a 30-day average of homeowners filings tracked by the insurance office showed a 1.3% decline and that 17 new insurance companies have entered Florida since the reforms were enacted.

DeSantis also highlighted the My Safe Florida Home program, which offers matching grants for home hardening and, he said, produced average annual savings of about $900 for participating homeowners. He urged legislators to fund the program and clear a waiting list of approved applicants who had not received grants.

Both officials pointed to improvements in the reinsurance market — insurance that insurers buy to cover catastrophe risk — as another factor that should help lower costs for consumers.

No formal vote or regulatory order was announced at the event. Yaworski said his office is negotiating with other major insurers to seek comparable credits or rate adjustments and that more announcements could follow.

Ending note: DeSantis framed the developments as evidence the state's litigation reforms have attracted insurer capital and increased competition, saying the credits and rate reductions put consumers in a better position to shop for lower premiums.