Florida Legislature to investigate insurance companies amid property tax debate
As Gov. Ron DeSantis delivered his State of the State address Tuesday, Florida House Speaker Danny Perez announced a major investigation into insurance companies, responding to concerns over rising homeowner costs.
Perez, a Miami Republican, said the House will hold hearings soon, following a report from the Miami Herald alleging that some insurers transferred billions to affiliated companies while reporting financial losses.
"A couple of years ago, the insurance industry came to the Legislature and said without sweeping reforms, companies could not compete in Florida," Perez said, vowing to investigate whether companies hid profits.
House to subpoena witnesses, examine financial practices
The Miami Herald report cited an unpublished study showing that some insurers shifted profits to related companies, a practice that could misrepresent their financial health.
A House committee will now investigate by issuing subpoenas, questioning witnesses under oath and hiring outside experts.
Gov. Ron DeSantis said he supports transparency but warned against policies that could increase lawsuits.
"Our markets were being driven into the ground because of excessive litigation," DeSantis said. Instead, he advocated for policies aimed at stabilizing the market while easing the financial burden on homeowners.
DeSantis pushes property tax reform
Alongside the insurance debate, DeSantis is pushing for property tax reforms, with a potential referendum on tax cuts appearing on the 2026 ballot.
"We can't set price controls," DeSantis said. "But taxes? That's solely in control of government."
For many South Florida residents, any relief would be welcome.
"We used to live here before and prices have gone up even more," said Huma Zaman, who recently returned to Doral after living out of state. Currently renting, she said homeownership feels unattainable.
"What we're spending every year, if they were to completely get rid of property tax, that would be a huge thing for us."
Homeowners, condo owners struggle with rising costs
Property owners also said they are feeling the financial strain.
"Originally, I was renting an apartment, so just being a homeowner now and seeing everything firsthand, it's definitely a lot," said Andrew Greene.
State lawmakers are also expected to explore ways to ease financial burdens on condo owners, who have been hit with rising fees and maintenance costs following new safety reforms.
