The December 2022 property insurance market reforms passed by the Florida Legislature are making a big difference already, with fewer and less severe non-hurricane claims and fewer daily lawsuits, according to a major Florida insurance company. Former Florida Deputy Insurance Commissioner Lisa Miller talks with Stacey Giulianti of Florida Peninsula Insurance Company on how the reforms have leveled the playing field in insurance litigation and together with innovative industry practices, will bring positive results for consumers, carriers, and their reinsurance companies.Show NotesStacey Giulianti is a Co-Founder and Chief Legal Officer at Florida Peninsula Insurance Company, a Florida-based homeowners property insurance carrier.  Together with its sister company Edison Insurance, they have a combined 180,000 polices in Florida.  The 2022 reforms were designed to stem high insurance and reinsurance rates, carrier insolvencies, inflated claims, an overly-competitive residual market, and especially excessive litigation.  According to the Florida Office of Insurance Regulation, in 2021 Florida had 7% of the nation’s homeowners insurance claims yet 76% of the nation’s homeowners insurance lawsuits.  (For full Show Notes, visit https://lisamillerassociates.com/episode-43-future-of-florida-insurance-litigation/) Giulianti, a former plaintiff attorney before representing insurance companies, said the reforms, specifically the elimination of one-way attorney fees, will “level the playing field” between plaintiff and defense attorneys in disputed claims.  “The problem was that it really only gave the incentive to the plaintiff lawyers, to people like me back in the day, to file that suit, no matter what, it doesn't matter about mediating, it doesn't matter about coming together and trying to find common ground, it was like, ‘Who cares, I am going to get attorney fees one way or the other,’” he said.He disagrees with critics who argued that eliminating the one-way attorney fees would create a barrier for consumers looking to find an attorney to sue an insurance company on their behalf.  He said courts at the end of a case can still award attorney fees if justified and tax costs, such as the hiring of an expert witness, something he said is actually needed in less than 10% of disputes.  “That's a little bit of nonsense from plaintiff lawyers trying to say that you need an expert in every case,” said Giulianti, who is also an accredited claims adjuster.  “You don't, because most of these cases, we already know what the damage is.   And it's really a scope and pricing differential.  Do you repair it, do you replace it, is it $5,000 to repair that, or is it $50,000 to repair that?”  Giulianti said that hiring an expert would still be less expensive to the consumer than paying 30% to 40% of their court award in attorney fees.Innovative Options: The reforms allow insurance companies to offer mandatory binding arbitration in their policies with a resulting premium discount.  “Ultimately what we want is a quick, easy, and inexpensive way to get an answer.  What we are really looking for is for someone to tell us either way, what the answer is to the dispute.  You get the answer relatively fast and it’s resolved, versus court cases that can last for years.”  Giulianti said the vast majority of claims are undisputed and simply get paid by insurance companies.Citizens Property Insurance Corporation, the state-backed residual market carrier in Florida, recently received regulatory approval to handle contested claims outside of court through the state’s Division of Administrative Hearings.   These are for claims that were either denied because of a determination of no coverage or contract limitations regarding the coverage amount.  “I think those types of judges from the administrative side are every bit as smart as anybody else who's going to be(continued)