FL H7015

Creates section 627.7152 establishing requirements for assignment agreements allowing residential property insurance policyholders to assign post-loss benefits to service providers for property repairs and damage mitigation.

Assignment agreements must be in writing, include a 7-business-day rescission period without penalty, provide detailed cost estimates, and deliver copies to insurers within 3 business days of execution.

Assignees must maintain records, cooperate in claim investigations, provide updated repair estimates, and perform work to industry standards without charging policyholders above the policy deductible.

Requires assignees to provide 10-business-day notice before litigation and establishes attorney fee awards based on judgment outcomes: insurer awarded fees if judgment is less than 25% above settlement offer, assignee awarded fees if at least 50% above settlement offer.

Amendments to section 627.422 prohibit personal lines and commercial residential property insurance policies from prohibiting assignment of post-loss benefits; effective July 1, 2018.