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FL H1439
Bill
Status
Failed
3/8/2024
Primary Sponsor
Katherine Waldron
Click for details
AI Summary
- Converts property insurance claims mediation from a voluntary process to a mandatory requirement for personal lines and commercial residential policies, making mediation a condition precedent to filing litigation
- Requires all named insureds or their representatives to personally attend mediation, with parties allowed to conduct mediation by teleconference or telephone if mutually agreed upon
- Requires policyholders to provide the insurer with all supporting documents and information serving as the basis for the claim within 10 days after mediation is invoked
- Grants policyholders not represented by an attorney or public adjuster 3 business days to rescind a written settlement reached through mediation, unless they have already cashed or deposited any resulting payment
- Appropriates $1 million in recurring funds from the Insurance Regulatory Trust Fund to the Department of Financial Services for program administration, effective July 1, 2024, with remaining provisions taking effect January 1, 2025
Legislative Description
Resolution of Disputed Property Insurance Claims
Last Action
Died in Insurance & Banking Subcommittee
3/8/2024
Committee Referrals
Insurance And Banking Subcommittee1/13/2024
Full Bill Text
No bill text available