TALLAHASSEE — Don’t expect major property insurance legislation this session as relief from past reforms is still coming, says Senate President Ben Albritton.

“I mean, quite frankly, you know, I wouldn’t expect any kind of major property insurance changes this year,” Albritton told reporters after a brief floor session on Wednesday.

Albritton pointed to legislation enacted in 2021 and 2022 that eliminated so-called one-way attorney fees and banned assignment of benefits, where contractors would take over policyholder claims. The efforts also imposed larger rate increases for customers of the Citizens Property Insurance Corp., in an effort to bring rates closer to private carriers, and launched what has turned out to be a successful effort to reduce the number of policies held by the state-backed insurer.

“We did some major tort reform a couple of years ago that ended the practice, or at least heavily suppressed the practice of frivolous lawsuits in Florida,” Albritton said. “There are lawsuits that are correct and meaningful and there were thousands (more) that were being filed, thrown against the wall and to see if it sticks.”

Albritton said the current state of the market has been aided by Florida getting through the 2025 hurricane season without a direct hit.

“We have every expectation that this coming year we’re going to see a relief in rates just because of the way OIR works, the Office Insurance Regulation,” Albritton added. “There are limitations on the profitability that insurance companies can make regardless of what anybody in the world believes, that is the fact. That is Florida statute.”

Democrats in the Legislature have raised issues of affordability, with a focus in their proposals on property insurance rather than Gov. Ron DeSantis’ desire to ask voters in November to cut homesteaded property taxes. But even Republicans have filed bills to increase transparency about insurance company finances. Allbritton’s comments suggest a tough road ahead for all of that legislation.

Albritton acknowledges that all the changes anticipated from the 2021-2022 overhaul have still not taken hold, but he has “every expectation” they will.

“Why would I tinker with that? Why would I advocate tinkering with that?” Albritton said.

“The property insurance costs are no different than food costs or utility costs or rent costs or gasoline costs. They are part of the affordability basket that is pressing on Floridian’s wallet. So, do I think that they are satisfied with what they’re paying for property insurance? No, I don’t. But also knowing that, I believe relief is coming because of mathematical factors.”