Florida drivers who have grown accustomed to rising auto insurance premiums are receiving an unexpected financial relief: a refund check delivered directly to their mailboxes.
State regulators have announced that Infinity Auto Insurance Company is required to return more than $46 million in excessive profits to its policyholders, with checks scheduled to be distributed within the next 60 days. The refunds address overcharges accumulated across 2023, 2024, and 2025.
Under a state statute designed to prevent insurers from retaining unreasonable earnings, auto insurance companies cannot quietly accumulate surplus profits. When a company’s underwriting profit over a three-year period exceeds its projected margin by more than a 5% buffer on earned premiums, state law mandates that the insurer return the surplus to the policyholders who originally paid it.
Florida Insurance Commissioner Mike Yaworsky commended Infinity for voluntarily submitting its financial data while simultaneously cautioning the broader insurance industry that regulators are maintaining close oversight.
“Insurers must act in the best interest of Florida consumers, and I commend Infinity Auto for reviewing their finances and providing data promptly to the Office of Insurance Regulation. We are aware of other auto insurance companies approaching the statutory threshold for excess profits and anticipate more announcements of refunds for Floridians in the near future.”
Policyholders who have relocated or changed addresses retain their legal protections under this process. Carriers are legally obligated to make reasonable efforts to locate former customers, and any unclaimed checks will not revert to company reserves. Instead, those funds will be transferred to the state’s unclaimed property registry under Chapter 717 of the Florida Statutes, where drivers may claim their money at a later date.
Chief Financial Officer Blaise Ingoglia characterized the multimillion-dollar payout as tangible evidence that recent state reforms are producing measurable financial benefits for drivers.
“When insurers are able to return money to their customers, it helps drive down costs for families. These refunds make a big difference for Floridians working hard every day to put food on the table while maintaining proper auto insurance coverage. Refunds like this are further proof that our insurance market continues to strengthen , the reforms are working, and I look forward to making more announcements like this in the near future.”
The Office of Insurance Regulation confirmed that it is actively reviewing the financial records of competing auto insurance carriers under Section 627.066, indicating that Infinity’s $46 million refund may represent only the beginning of a broader series of mandated reimbursements to Florida drivers.
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