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FL H1191
Bill
Status
Failed
3/8/2024
Primary Sponsor
Insurance & Banking Subcommittee
Click for details
AI Summary
- Extends the existing prohibition on assignment of post-loss insurance benefits to residential and commercial property insurance policies issued by eligible surplus lines insurers on or after July 1, 2024
- The existing prohibition on post-loss benefit assignments already applied to policies issued by authorized insurers on or after January 1, 2023; any attempt to assign such benefits is void, invalid, and unenforceable
- Preserves exceptions for assignments to subsequent property purchasers with an insurable interest, powers of attorney granted to management companies/family members/guardians, and liability coverage under property insurance policies
- Amends section 627.7152, Florida Statutes, governing assignment agreements
- Effective date is July 1, 2024
Legislative Description
Assignment of Benefits for Surplus Lines Insurers
Last Action
Died in Judiciary Committee
3/8/2024
Committee Referrals
Judiciary1/26/2024
Insurance And Banking Subcommittee1/13/2024
Full Bill Text
No bill text available