HB 761 Summary

• Requires Citizens Property Insurance Corporation to adopt policy forms establishing procedures for property loss appraisal when the insured and corporation disagree on actual cash value, loss amount, or repair/replacement costs.

• Either party may demand appraisal by written notice; corporation can only refuse if insured materially fails to comply with proof-of-loss obligations, and corporation waives appraisal rights if not invoked within 30 days of substantial proof-of-loss compliance.

• Each party selects a competent appraiser within 20 days of appraisal demand; appraisers select an umpire within 15 days, or either party may petition county or circuit court to designate one if agreement cannot be reached.

• Appraisal proceedings are informal (no formal discovery, rules of evidence, or court reporter) unless parties mutually agree otherwise; each appraiser submits written report within 60 days (120 days for large commercial or hurricane-related claims), and unresolved differences are submitted to umpire for binding determination.

• Appraisal award is binding on both parties regarding loss amount; corporation pays all appraisal costs if final determination exceeds pre-appraisal estimate by 50 percent or more; Florida Arbitration Code applies only to specific procedural provisions, and appraisal process cannot address coverage issues but may consider causation when necessary.