SARASOTA, Fla. — Florida Gov. Ron DeSantis said that the state has received nearly $1 billion in credits for Progressive auto insurance policyholders.
Gov. DeSantis spoke at a press conference in Sarasota on Wednesday with Florida Office of Insurance Regulation Commissioner Michael Yaworsky.
DeSantis pointed to litigation reforms enacted in the state of Florida as a contributor to the credit. He said the top five insurers in Florida have averaged a 6.5% reduction in rates.
"Part of the reason they are able to do that is because you have seen a decline in litigation expenses almost immediately from when the 2023 and 2024 reforms were put in," DeSantis said.
Watch announcement from Governor DeSantis
The governor said Progressive policyholders will get an average rebate of $300, depending on how long they have been insured with the company.
Governor DeSantis said he expects other insurance companies to have similar rebates by January 1.
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