Florida's Latest News

USAA to return nearly $1 billion to Florida members as legal reforms help lower insurance costs

USAA said it will deliver nearly $1 billion in combined savings and returns to eligible Florida members, including a $500 million dividend, CNBC can exclusively report. 

The insurer credits Florida’s civil litigation and tort reforms as a key reason it can send money back to policyholders. USAA says its legal costs declined after Florida moved to curb what insurers have long described as legal system abuse.

In 2023, Florida passed tort reforms that shortened the statute of limitations to two years, eliminated so-called phantom damages and ended one-way attorney fee awards. Those changes were designed to reduce incentives for excessive litigation, particularly in insurance claims.

Since then, the litigation numbers have shifted sharply. Auto glass lawsuits fell from about 24,000 in the second quarter of 2023 to roughly 2,600 in the same period of 2024, according to a Milliman white paper cited by USAA. Florida had ranked second nationally for “nuclear verdict” payouts from 2009 to 2022, but dropped to 10th by 2024, according to Milliman.

With qualifying days away, 4 competitive House seats remain unchallenged

Less than a week from the qualifying deadline, 24 Florida House district races remain uncontested by one of the two major political parties.

That means each race has either only Democrats or Republicans running, with, in some cases, a third-party challenger with little to no shot of winning.

That arrangement is understandable in 80% of those contests, where one party has such an edge with the electorate that, for now, running candidates to flip those seats would be a waste of money and resources.

But in four House districts (one Republican-controlled, three Democrat-led), the voter divide is narrow enough that the absence of a challenger from the opposing party is eye-raising at best and confounding at worst.

They range from a district in Palm Beach County that sided with Kamala Harris in 2024 by just 1 percentage point, based on 2024 state presidential vote analyses by Matt Isbell of MCI Maps, to an Orange County district Harris won by 11 points.

Big money is pouring into South Florida health systems. What it means for patients

A flurry of big-money donations is strengthening South Florida’s health systems, a trend that will significantly benefit everyone who needs medical care in the years ahead.

The million-dollar-plus donations by local billionaire philanthropists, who are aging and may need medical treatment themselves, are aimed at improving cancer care, funding research to prevent and treat diseases, fueling major hospital expansions, and adding specialized pediatric care.

In recent years, big gifts have increased as the community of South Florida billionaire philanthropists has grown, either relocating to the area or sharing the fortunes they amassed through homegrown businesses. As money pours in, those suffering from a disease like Parkinson’s or seeking experimental therapies for Alzheimer’s will find medical innovation in their backyard rather than having to travel outside the state.

“What these extraordinary gifts reflect is a growing understanding that the health of a community is one of its most important long-term investments,” said Loreen Chant, president and CEO of the Health Foundation of South Florida

Rising power bills push Florida cities to rethink utilities

It’s been more than 20 years since a Florida city rejected one of the big investor-owned electric utilities to form their own. Now, two Gulf coast cities may take the same route.

The St. Petersburg City Council voted Thursday in favor of a study to determine if it’s worthwhile to end a 30-year power agreement with Duke Energy Florida. A few miles north, the city of Clearwater did a similar study with its 30-year deal with Duke is also up for renewal this year.

The last Florida city to form a municipal utility was Winter Park, near Orlando, in 2005. There are now 33 such utilities in Florida, including Orlando, Lake Worth Beach, Jacksonville, Lakeland, Fort Pierce and Homestead, according to the Florida Municipal Electric Association. They provide power to about 14% of the state’s population.

With St. Petersburg’s franchise agreement with Duke ending Aug. 1, officials there see a chance to lock in a less costly arrangement rather than renewing with Duke for another 30 years.