FL S0632

Requires insured, claimant, or representative to provide written notice of loss before filing a third-party bad faith action against an insurer for failure to settle a liability insurance claim.

Shields insurer from bad faith liability if the insurer complies with disclosure statement requests under s. 627.4137.

Shields insurer from bad faith liability if the insurer offers to pay within 45 days of receiving written notice of loss the lesser of the claimant's requested amount or the policy liability limits in exchange for a full release.

Modifies the 60-day notice requirement for violations by clarifying the time period does not begin until a proper notice is filed if initially returned for lack of specificity.

Takes effect July 1, 2016.