Residents of the Sunshine State shouldn’t expect homeowner insurance rates to drop in the near future. When Florida lawmakers will head back to session in March, it doesn’t appear that they will be pushing for insurance reform.

At the Florida Chamber of Commerce's Annual Insurance Summit in Orlando last week, a high-ranking Office of Insurance Regulation (OIR) official discussed their strategy for the coming new year, and it seems they plan on doing nothing to lower rates.

"I think the Florida Office of Insurance Regulation (OIR) would really like to see just a status quo for now," Florida Deputy Insurance Commissioner Virginia Christy said in a recent NBC WPTV 5 article.

Insurance Commissioner Michael Yaworsky, backed the plan of non-action, claiming he is confident that the reforms on passed regarding litigation from early last year are working to lower insurance costs for homeowners.

"We are affirming the fact that the market is improving," said Yaworsky in the WPTV article.

Yaworsky claims that the improvement is a result of insurers asking for modest rate reductions, as well as new insurers entering the market. In addition, Citizens Insurance is now below a million policies.

"For now, until that data comes through, we don't want to have any other tweaks that would set us back from this path we're on, which is a good path to reform," Christy said at the summit.

Despite the high hopes of the Florida Office of Insurance Regulation, lawmakers are saying that they continue to hear complaints from homeowners about the high cost of homeowners insurerance. This pressure has led some lawmakers to consider doing more to lower insurance costs.

"There's some concerns the Legislature could move backward in some areas," former state Sen. Jeff Brandes said in the WPTV article. "I think that is probably going to be tempered right now."

While Florida lawmakers seem to be avoiding any major reforms, numerous Florida lawmakers say they expect some to make some changes, including putting more money into the My Safe Florida Home program which has become popular with homeowners.

Lawmakers freely admit that homeowners are still complaining about high premium costs and that the reforms passed in 2022 have been slow to bring financial relief to homeowners.

"Insurance premiums in Florida are very expensive, and I understand the Legislature will get pressure from consumers to try and bring those rates down," Dr. Charles Nice at Florida State University's School for Risk Management said in the WPTV article.