FL H0301

Florida Hurricane Catastrophe Fund loss adjustment expense reimbursement increases from 5% to 10% of reimbursed losses for contracts effective on or after June 1, 2019

Insurance companies paying total loss claims on salvage vehicles can submit titles electronically when available, and effective January 1, 2020, may obtain salvage certificates 30 days after claim payment if unable to obtain title from owner/lienholder

Criminal penalty for submitting false workers' compensation insurance applications reduced from second-degree felony to third-degree felony, and sworn statements on applications no longer require notarization

Creates right of contribution among liability insurers for defense costs when multiple insurers owe duty to defend same insured, effective for claims initiated on or after January 1, 2020

Minimum premium collection for private passenger motor vehicle insurance reduced from 2 months to 1 month before policy issuance; "diligent effort" threshold for surplus lines residential coverage lowered from $1 million to $700,000 dwelling replacement cost