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FL S0178
Bill
AI Summary
- Requires mandatory mediation for disputed property insurance claims under personal lines and commercial residential policies, making mediation a condition precedent to filing litigation rather than an optional process
- Requires policyholders to provide the insurer with all supporting documents and information for the claim within 10 days after mediation is invoked
- Allows mediation to be conducted by teleconference or telephone if both parties mutually agree, while requiring all named insureds or their representatives to personally attend regardless of format
- 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 effective July 1, 2024, with remaining provisions taking effect January 1, 2025
Legislative Description
Resolution of Disputed Property Insurance Claims
Last Action
Died in Banking and Insurance
3/8/2024
Full Bill Text
No bill text available