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FL H7071
Bill
Status
Failed
3/14/2020
Primary Sponsor
Judiciary Committee
Click for details
AI Summary
- Amends Florida Statute 627.428 to establish a strong presumption that a lodestar fee (base hourly rate times hours worked) is sufficient and reasonable for attorney fees in property insurance claims
- Limits the use of contingency risk multipliers, which can increase attorney fees above the lodestar amount, to rare and exceptional circumstances
- Requires evidence that competent counsel could not be retained in a reasonable manner to rebut the presumption and justify a fee multiplier
- Effective date: July 1, 2020
Legislative Description
Contingency Risk Multipliers
Last Action
Died in Banking and Insurance
3/14/2020
Committee Referrals
Banking and Insurance3/5/2020
Commerce Committee2/4/2020
Full Bill Text
No bill text available