Bill Would Simplify Residential Notice Requirement
House Bill 165 has passed both chambers of the legislature and will be presented to Governor Scott. The bill addresses a variety of topics related mainly to property and casualty insurance. Among these provisions, the bill would simplify the notice requirement applicable to residential property and casualty insurance. The bill establishes a uniform 120-day period for residential property insurance cancellations and nonrenewals under section 627.4133. Current law contains a complicated combination of notice periods including 100 days’ notices for most policies but 120 days’ notice for policies in effect for five years and a requirement to send notices by June 1 for any effective date between June 1 and November 30. The existing provisions have been criticized as complicated and difficult to administer, which should be alleviated under the new bill. If the bill becomes law, the new provision will take effect July 1.
Our post-session edition of the Florida Insurance Report will describe the primary insurance bills that pass during the current session. It is available by mail or email, and interested readers can sign up using the subscription function at www.radeylaw.com.