January 29 and February 2 were big days for assisted living bill-making in Florida, and SRI Management was in the thick of it at the Florida Capitol.

SRI Management’s Chief Financial Officer Seth Walker spoke Monday during a Florida Senate Committee for Senate Bill 238 and Thursday during a Florida House of Representatives Committee meeting for House Bill 995. During the committee’s comment portion, Seth spoke about how Florida's insurance costs have increased. SB 238 and HB 995 successfully passed with a vote of 9-0 and 12-5, respectively.

“In 2016, the insurance cost averaged around $528 per resident per year. Today, that amount is $2,220 per resident per year, nearly quadrupling in seven years with the primary driver of these increasing costs is the rising cost of settlements and the exponential increase in the frequency of litigation," Seth said during public comment.  

The next steps for both bills include a few more committee stops.