CS/CS/HB 359 - Insurance Bill Summary

• Creates comprehensive travel insurance framework by establishing new Chapter 647, Florida Statutes, defining travel insurance products, travel protection plans, travel retailers, limited lines travel insurance producers, and travel administrators with specific licensing and operational requirements.

• Modifies workers' compensation payment methods to allow employees to authorize compensation payments through licensed money transmitters in addition to checks, direct deposit, or prepaid cards.

• Revises civil remedy notice procedures under s. 624.155 by requiring notices be sent to insurers' designated email addresses and extends the statute of limitations tolling period from 60 to 65 days; changes the damage payment deadline from "filing notice" to "receiving notice" from the department.

• Allows aggregate information containing trade secrets to be publicly disclosed by the department or Office of Insurance Regulation unless the information can be individually extrapolated; requires insurers to file email addresses for service of civil remedy notices.

• Reduces the prohibition period on motor vehicle insurance cancellation for nonpayment from 60 days to 30 days following policy effective date (with exceptions for dishonored checks or rejected payments); extends deadline periods that fall on weekends or holidays until the next business day for rate filing reviews.