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FL S1174
Bill
AI Summary
- Changes property insurance claims mediation in Florida from voluntary to mandatory, making mediation a condition precedent to commencing litigation under personal lines and commercial residential policies
- Requires all named insureds to personally attend mediation; parties may mutually agree to conduct mediation by teleconference or telephone instead of in person
- Requires policyholders to provide the insurer with all supporting documents and information for their claim within 10 days of mediation being invoked
- Limits the 3-business-day rescission period for mediation settlements to cases where the policyholder is not represented by an attorney or public adjuster
- Appropriates $1 million in recurring funds from the Insurance Regulatory Trust Fund to the Department of Financial Services for program administration, with an effective date of January 1, 2024
Legislative Description
Resolution of Disputed Property Insurance Claims
Last Action
Died in Banking and Insurance
5/5/2023
Full Bill Text
No bill text available