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The House and Senate based a bill designed to more equitable handle insolvencies associated with long term care insurers. After passing both chambers without opposition, HB 673 goes to Governor Ron DeSantis for action. The bill largely follows the NAIC Model Act related funding long-term care insolvencies. In general, these insolvencies will be divided evenly […]
The 2019 Florida legislative session has come to a close. After several years of “wait ’til next year” results on the Assignment of Benefits (AOB) issue, this year’s legislature finally passed much-needed reform. Media outlets around the state are calling this one of the biggest results of the 2019 session. The legislature’s paramount duty, of […]
The Florida legislature has passed HB 7065 designed to curb abuses with “assignments of benefits” in Florida’s property insurance market. Among other things, the bill addresses problems with Florida’s one-way attorneys’ fee statute arising when commercial vendors use the statute in suits against insurers. The bill also allows insurers to adopt policy forms restricting assignments […]
The Florida House of Representatives has passed its version of Assignment of Benefits (AOB) reform. The bill has been a priority of key policymakers, including CFO Jimmy Patronis and Insurance Commissioner David Altmaier. You can learn more here. The bill is aimed at reducing abuses that have plagued the Florida property insurance market when consumers […]
The Florida Legislature is in the final month of its annual 60-day regular session. This year’s session concludes May 3. For many who follow Florida’s residential property insurance market, the question this year is the same as in recent years— is this the year assignment of benefits (AOB) reform will pass? Floridians throughout the state […]
A Senate committee has advanced SB 1052 on a 5-3 vote. The bill is one of two proposals pending in the Senate that would replace Florida’s no-fault (PIP) auto insurance system with mandatory bodily injury coverage. The other Senate bill has not been heard in committee. Perhaps more importantly, the Florida House also has not […]
A second Senate committee has approved an adjusting to existing law relating to flood insurance disclosures. Last year, the legislature adopted a requirement for all homeowners’ policies to state that they do not cover flood damage. Unfortunately, there is no exception in the current law for policies that actually do contain flood insurance in the […]
Bills to fix a glitch in last year’s flood disclosure requirement have moved out of their first committees in the House and Senate, respectively. The legislature adopted a requirement last year for homeowners’ insurers to include a disclosure on their policies stating that the policies do not cover flood. However, the bill did not contain […]
Governor Ron DeSantis had many topics to choose from as he addressed the legislature at the outset of this year’s session. More information here. However, the Governor opted to touch upon the highlights rather than exhaustively list the priorities of his first session as Governor. Among these, Governor DeSantis discussed the need for AOB reform, calling […]
The 2019 Florida legislative session in only about a week away. This year’s session will be different in some respects than recent sessions, if only due to significant changes in executive branch and legislative officers. The Governor’s office often sets the tone for legislative sessions through developing proposed budgets and advancing public policy issues. The […]
