Attorney Stephen Cain has long been at the forefront of holding insurance companies accountable. In a recent interview with the Daily Business Review, Cain addressed the impact of Florida’s tort reform and the new measures being introduced in Georgia, warning that these laws continue to stack the deck in favor of insurers while stripping consumers of their rights.
“They've now incentivized bad actors who are doing business in Florida. The only way to change the conduct of these bad businesses and insurance companies is to hold them accountable,” Cain said. “By limiting the ability of plaintiffs to bring these cases and restricting what they can recover only serves to benefit the insurance industry.”
Cain has been a vocal critic of Florida’s tort reform measures, which have made it harder for homeowners and policyholders to bring lawsuits against insurers who refuse to pay valid claims. While politicians claim these laws will lower insurance costs, property insurance premiums remain high, while insurers report record profits—leaving homeowners with fewer options and little recourse.
The Impact of Florida’s Laws
Nearly two years after Florida enacted its sweeping tort reforms, the results are clear: insurance companies have benefited while policyholders continue to struggle. Universal Property and Casualty Insurance Co. recently announced $385 million in revenue—an increase from the previous year. Meanwhile, countless Floridians are still battling to receive fair compensation for their claims.
When asked if there was any upside to the legislation, Cain was blunt:
“The only positive outcomes from the measures have gone to the insurers.”