Some of Florida’s largest insurance companies have banded together and formed the Personal Lines Insurance Federation of Florida to lobby for changes in the state’s regulatory environment in an effort to spur growth in the personal lines market.
Allstate Insurance Co., State Farm Insurance Co., and Progressive Insurance Co. are charter members of the new trade group. The three insurers represent 45 percent of the automobile market and more than 25 percent of the homeowners market.
Michael Carlson, the new executive director for PIFF, said the organization is dedicated to improving the state’s personal lines markets by ensuring company solvency and expanding the availability of coverage through competitive pricing.
“Florida consumers deserve more choices in the market, both in terms of the kinds of products they might purchase and the companies from which they may purchase,” Carlson said.
Carlson previously served as director of legislative affairs and later the deputy chief of staff for the Department of Financial Services under former Chief Financial Officer Alex Sink.
First up for the new trade group is the Florida Legislative session which convenes March 8. Lawmakers are already considering two major insurance bills including one on property insurance and another on automobile personal injury protection. The bills are expected to dominate discussions on insurance this year. Carlson indicated that the trade group expects to be at the center of those issues.
“PIFF plans to work with the legislature, the governor, state regulators, the business community, and consumer groups to make Florida a better place in which to insure a vehicle or home,” Carlson said.
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