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FL S0224
Bill
AI Summary
- Converts property insurance claim mediation from a voluntary process to a mandatory requirement and makes it a condition precedent to filing litigation under personal lines and commercial residential policies, effective January 1, 2026
- Requires all named insureds or their representatives to personally attend mediation, with an option for teleconference or other electronic means only if both parties mutually agree
- Requires the policyholder to provide the insurer with all information and supporting documents serving as the basis for the claim within 10 days after mediation is invoked
- Narrows the 3-business-day rescission period for mediation settlements to apply only when the policyholder is not represented by an attorney or public adjuster, rather than to all policyholders
- Appropriates $1 million in recurring funds from the Insurance Regulatory Trust Fund to the Department of Financial Services effective July 1, 2025, to administer the new mandatory mediation program
Legislative Description
Resolution of Disputed Property Insurance Claims
Last Action
Died in Banking and Insurance
6/16/2025
Full Bill Text
No bill text available