politics
USAA Returns Nearly $1 Billion to Florida Policyholders in Dividend
USAA will distribute nearly $1 billion to more than 830,000 eligible Florida members. Payments averaging $760 began last month following state insurance reforms.
Jul 11, 6:00 AM·1m read1 source
Washington ExaminerAudio version
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USAA announced it will return nearly $1 billion in savings to eligible Florida policyholders, including a $500 million dividend, Washington Examiner reported. More than 830,000 USAA members will receive payments. Distributions began rolling out last month.
Most policyholders will receive an average of $760, while over a quarter will receive more than $1,000 per check. From 2023 to 2024, overall insurance litigation filings in Florida dropped by 23%. Florida's 2023 reforms eliminated one-way attorney-fee provisions, reformed bad-faith statutes, and tightened the rules around assignment of benefits.
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