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Second DCA Upholds Multiple Assignments

Second DCA Upholds Multiple Assignments

Florida’s Second District Court of Appeal has upheld the ability of a policyholder to make multiple assignments under a homeowners insurance policy.  Nicon Construction v. Homeowners Choice Property and Casualty Insurance Company involved a policyholder’s issuing assignments of benefits to two separate vendors.  The insurer argued that upon the policyholder’s assigning the policy rights to […]

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DFS Requests Updated Licensee Information Upon Change of Control

DFS Requests Updated Licensee Information Upon Change of Control

The Florida Department of Financial Services indicates that if a licensee under Chapter 626 undergoes a change in ownership or control, or if a new partner, officer or director is named, the licensee must file fingerprints for the new owner, partner, officer or director within 30 days of the change. DFS advises that the scope of […]

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DFS Reminds Agents to Display Licenses

DFS Reminds Agents to Display Licenses

The Florida Department of Financial Services reminds Florida insurance to make sure their licenses are prominently displayed within their offices.  DFS refers to Section 626.172, Florida Statutes, providing that a licensed insurance agency is required to display the Department-issued agency license prominently and such that the license is clearly visible to any customer or potential […]

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Revised Flood Insurance Disclosure Heads to Governor’s Desk

Revised Flood Insurance Disclosure Heads to Governor’s Desk

Hurricane Irma caused substantial damage from floods or rising water and renewed attention to the coverages and limitations of traditional homeowners’ insurance policies.  Although existing Florida law requires a disclosure in homeowners’ policies informing policyholders of their potential need to consider buying flood insurance, the Florida legislature decided to expand this disclosure in the 2018 […]

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Omnibus Bill Heads to Governor’s Desk

Omnibus Bill Heads to Governor’s Desk

The Florida legislature passed this year’s omnibus insurance bill on the final day of the session.  The bill (HB 465) covers a range of topics relating to various aspects of the insurance industry.  Many auto insurers will appreciate that provisions referring to delivery of cancellation notices have been updated to allow Intelligent Mail bar codes […]

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Session Heads Into Final Week

Session Heads Into Final Week

The 2018 Florida legislative session is drawing to a close, barring any extensions or subsequent special sessions.  This year’s session has been unusual for issues outside of the typical annual cycles of budgets and other expected business.  The 2018 session began with a lot of attention directed to the range of relationships between legislators, staff […]

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Florida Bar Approves Litigation Cost Insurance Pass-Through

Florida Bar Approves Litigation Cost Insurance Pass-Through

The Florida Bar Board of Governors recently determined that it is permissible for attorneys to ask their clients to the cost of “litigation cost protection” insurance. This form of insurance reimburses an attorney up to the insured amount of costs advanced on behalf of the client if the attorney takes a case to trial and […]

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AOB Restrictions Again Rejected in Fifth District

AOB Restrictions Again Rejected in Fifth District

The 5th District Court of Appeal dealt another setback to insurers dealing with the “assignment of benefits” issue that continues to lead to rising insurance rates and restricted capacity in some areas of the state.  The latest in a string of adverse judicial decisions came last week in Restoration 1 CFL, LLC v. ASI Preferred […]

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Session Might Bring Updated Trade Secret Process

Session Might Bring Updated Trade Secret Process

The insurance industry should stay tuned in the 2018 session for potential updates to Florida’s trade secret laws.  Insurers are familiar with Section 624.4213, which creates a process for protecting information submitted to the Office of Insurance Regulation or the Florida Department of Financial Services.  Although the current law has been helpful in creating a […]

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House and Senate Remain Apart on AOB Reform

House and Senate Remain Apart on AOB Reform

Just two weeks into the 2018 legislative session, the Florida House of Representatives and Senate continue to take distinct approaches to the “assignment of benefits” concerns affecting Floridians through increased insurance premiums.  The House passed a bill containing reforms directed at the root of the problem–  the one-way attorneys’ fee statute against insurers, which has […]

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