Progressive Plans Nearly $1B Refund To Florida Auto Policyholders Amid Insurance Reform

Florida Governor Ron DeSantis announced that Progressive Insurance will refund nearly $1 billion to Florida auto policyholders, averaging about $300 per customer, due to the company exceeding profit limits set by state law over the past three years. This refund is attributed to recent state insurance reforms aimed at reducing costly litigation and stabilizing the market, which have led to over a 6% rate reduction among the state's top five auto insurers. DeSantis highlighted that these reforms have also encouraged new insurers to enter the market and reduced homeowner insurance rates, contributing to overall market stability. Progressive plans to credit approximately 2.7 million personal auto policyholders active as of the end of 2025, with the refunds appearing as checks or bill credits. Insurance Commissioner Michael Yaworsky emphasized that the Office of Insurance Regulation is monitoring insurers to ensure compliance with laws requiring the return of excess profits to consumers. While consumers welcome the refunds, some express concern that insurance premiums in Florida remain high despite these developments.