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FL H0187
Bill
Status
5/2/2014
Primary Sponsor
Kathleen Passidomo
Click for details
AI Summary
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Requires insureds, claimants, or their representatives to provide written notice of loss to insurers before filing statutory or common-law actions for bad-faith failure to settle liability insurance claims.
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Protects insurers from bad-faith failure-to-settle liability if they comply with disclosure statement requests under section 627.4137 and offer within 45 days of receiving written notice of loss to pay the lesser of the claimant's acceptable amount or policy liability limits in exchange for a full release.
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Insures offering the required settlement amount are not considered in violation of the duty to settle in good faith and cannot be held liable for bad-faith failure to settle under statute or common law.
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Effective date is July 1, 2014.
Legislative Description
Civil Remedies Against Insurers
Last Action
Died in Insurance and Banking Subcommittee
5/2/2014