Bob Passmore of the American Property Casualty Insurance Association (APCIA) told Federal Newswire in a statement that several states, including Florida, have aimed legislative reforms at "legal system abuse," which is helping to bring down insurance costs.

"Florida has done a good job trying to curtail legal system abuse in their state recently by enacting some important tort reform measures including limiting phantom damages by now only allowing the actual amounts of medical bills that were paid into evidence, shining a light and requiring disclosure on behind the scenes third-party medical financing practices, instituting bad faith reforms and transforming their comparative fault system," said Passmore, vice president of auto and claims policy. "Early data reveals that Florida's insurance market is already stabilizing. States like Montana, Indiana, Louisiana and Wisconsin have adopted legislation requiring disclosure of third-party litigation financing, and there are several strong pending federal bills that also require TPLF transparency. And just over this past year, Iowa passed a $5 million cap on non-economic damages in cases involving commercial transportation companies."

According to Insurance Journal, a recent survey found that many Americans support legal system reforms. The survey, conducted by the Harris Poll, revealed that nearly 90% of respondents want legal reforms, while 88% believe there should be transparency around all parties involved in lawsuits. Sixty percent of respondents were not aware of the presence of third-party financiers in litigation, while 47% did not know that plaintiff’s attorneys typically take a significant portion of settlements and jury awards.

One legislative reform Florida Governor Ron DeSantis signed into law last year was HB 837. According to a press release from the governor's office, this bill was intended to reduce the number of "frivolous" lawsuits in the state and prevent trial attorneys from engaging in "predatory practices." The bill enacted tort reform measures including clarifying that negligence alone does not constitute "bad faith," eliminating attorneys’ fee multipliers, and establishing uniform standards to assist juries in calculating accurate medical damages. DeSantis said in a statement at the time, "I am proud to sign this legislation to protect Floridians, safeguard our economy and attract more investment in our state."

Florida Insurance Commissioner Michael Yaworsky said in May that the state’s insurance markets are showing signs of stabilization. According to a press release, Yaworsky stated that insurance reforms spearheaded by DeSantis, the state legislature, and the Financial Services Commission have contributed to the first downward trend in rate filings in years. At least eight insurance companies filed rate decreases for 2024, while ten other companies filed 0% rate increases. In the wake of the reforms, eight new companies were also approved to write home insurance policies in Florida.

U.S. Representative Darrell Issa (R-CA), Chairman of the House Judiciary Subcommittee on Courts, Intellectual Property, and the Internet, introduced draft legislation titled the Litigation Transparency Act in July. According to a press release, this act would require the disclosure of third-party litigation funding (TPLF) arrangements in civil lawsuits. "This legislation is a breakthrough measure that will target serious abuses in our litigation system and achieve long-overdue transparency," said Issa. "If a third-party investor is financing a lawsuit in federal court, it should be disclosed at the onset of the case. Awareness by all parties will help ensure fair and equal treatment by the justice system and deter bad actors from exploiting our courts."

Passmore joined APCIA in 2007, according to LinkedIn. He is also an advisory board member for the Insurance Research Council and a board member of the Insurance Institute for Highway Safety.