FHCF Turns Attention to Second Season Capacity
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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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
House and Senate Maintain Differing Views on AOB Issue
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