We respect the role of editorial boards in shaping public dialogue. However, when it comes to property insurance, one of the most significant economic issues facing Florida families and job creators, the discussion must be grounded in data, which we feel was ignored in a February 19 Orlando Sentinel editorial (“Property insurance should be a priority for lawmakers”).

And the data shows measurable progress. Property and auto insurance rates are dropping with a revived, competitive market drawing 17 new private insurers. That has led to nearly a million Floridians moving from taxpayer-backed Citizens Property Insurance to the private market, a good thing for all Floridians.

Let’s go back to 2023. Florida’s insurance market was in crisis. Rates were skyrocketing and Citizens grew exponentially in policies and exposure, with private insurers going out of business or leaving the market altogether.

At the time, Florida’s one-way attorney fee statute created incentives for lawsuit abuse. That imbalance drove a surge in property insurance litigation, discouraged private market participation and increased costs for every policyholder.

How bad was it? In 2019, Florida accounted for nearly 76% of all homeowners’ insurance litigation in the entire nation, while only having 7% of the claims. That means 49 other states combined only accounted for one in four legal actions.

The solution was clear. Remove the attorney fee incentive for billboard lawyers to file a flood of lawsuits while still protecting access to justice.

That set of smart reforms was finalized in 2023. The impact has made Florida the model for other states.

Litigation filings have dropped by nearly 23% since 2023. Seventeen new property insurers have entered the market. That has led to nearly 90 filings for rate decreases or no increases.

Citizens Property Insurance has seen average premium reductions of nearly 9% statewide. And Citizens had an incredible 1.4 million policies in late 2023. Now, that has plummeted to a little under 400,000, a win for Florida policyholders who could pay “hurricane taxes” if Citizens had a revenue shortfall.

The Perryman Group, a private economist group, found property insurance costs are about 14.5% lower due to the impact of the 2022-2023 reforms. The economists estimate that lower costs have led to a $4.2 billion increase in business activity with more than 29,000 jobs created.

Drivers are benefiting as well. Florida’s largest five auto insurers have decreased rates by an average of 6.5%. Progressive just returned nearly $1 billion to policyholders, citing Florida’s legal reform efforts.

These measurable outcomes deserve acknowledgment of the significant progress policymakers have already made to stabilize Florida’s insurance market. By virtually every applicable metric, these reforms have been a data-driven success that will continue to benefit all Floridians this year and for years to come.

Mark Wilson is president and CEO of the Florida Chamber of Commerce and a member of the Consumer Protection Coalition, which is focused on protecting consumers from the costs of lawsuit abuse.