Recap of Week 3 & Preview of Week 4 of Session
Last week (Week 3 of Session) kicked off with a noticeable uptick in the number of committee meetings and bills heard in those committees as legislators are diving into the meat and potatoes of Session. Throughout the week, over 353 bills were heard in their respective committees – 80 more than last week.
Although Session is 60 days (actually 9 weeks), much of the work must be accomplished in the first 5 weeks. Subcommittees will likely stop meeting at the end of this week which is week 4.
Reviewing the committee agendas for this week, it is becoming increasingly clear which bills, and big issues, are priorities. Regulation of reciprocal insurers, OIR regulatory oversight, Citizens Insurance operations and finances, and consumer protection make the top of the list. Outside of insurance bills, there is proposed legislation dealing with access to healthcare in rural areas, standards for our drinking water, controlling/restricting minors’ access to social media, and school choice.
In the last few weeks of Session, only full committees and appropriations meet as members spend increased time on the House and Senate floors, considering bills on final passage. The first parts of the House and Senate 2024-2025 budget proposals were made public last week. This is the first step in the annual budget process. The Senate’s proposal totals $115.9 billion, while the House’s proposal is just under $115.55 billion. These figures are lower than the current year’s spending plan, which totaled $119.1 billion.
The decrease in budget is due to the end of federal funds received during the COVID-19 pandemic. Senate President Kathleen Passidomo stated that they are making fiscally responsible adjustments to ensure a sustainable budget for the long term. House Speaker Paul Renner also mentioned that the state is moving beyond the influx of federal funds and expects a tight budget. These proposed budgets are subject to changes before being passed by the House and Senate. The final spending plan for the 2024-2025 fiscal year will be negotiated between the two chambers, with the legislative session scheduled to end on Friday, March 8, and then sent to Governor DeSantis, who has line-item veto power. Both proposals are larger than the $114.4 billion plan released by the Governor in December. Stay tuned!
“Rummy”
Speaking of the Legislature, all those that I know in the process love animals. And every year, I get to spend time with my legislative colleagues at an event called Red Dog Blue Dog, a fundraiser where both Democrats and Republicans serve as bartenders at a very popular spot in Tallahassee. All of the tips they earn are donated to the local dog rescue organizations. Lisa Miller & Associates is the annual event’s presenting sponsor and this past Wednesday, about 500 attendees enjoyed a wonderful time, including this fur angel named Rummy! The event raised more than $48,000. If you’d like to donate, please go to https://lasthoperescue.org/.
Thank you for supporting our work and being by our side!! Keep reading…lots more in this edition!
We have separated this Bill Watch and those for the remainder of our weekly session newsletters into two categories – “Bills in Play” and “Bills Not in Play”. For those of you who were following closely and have a favorite that has been placed in the latter, don’t forget: It has been my experience that most good ideas take 3 years to pass!”
Here is the list of legislative bills we’re following. You can click the bill link in the list below to go directly to the bill and its details further below. “Updated” bills are so noted. Updates within each bill are noted in blue font:
Florida Hurricane Catastrophe Fund and Reinsurance Assistance Updated
Policy Cancellations and Nonrenewals by Property Insurers Updated
Personal Lines Residential Property Insurance Updated
Department of Financial Services Updated
Access by Insureds to Claim-related Documents Updated
Insurance Updated
Financial Strength of Property Insurers Updated
Litigation Financing Updated
Condominium Windstorm Pilot Program Updated
Hurricane Protections for Homeowners’ Associations Updated
My Safe Florida Condominium Pilot Program Updated
My Safe Florida Home Program Updated
Citizens Property Insurance Corporation Updated
Citizens Property Insurance Corp. Updated
Coverage by Citizens Property Insurance Corp. Updated
Windstorm Coverage by Citizens Property Insurance Corporation Updated
Other filed property insurance bills Updated
Motor Vehicle Insurance Updated
Insurance Claims Updated
Flood Damage Prevention Updated
Flood Disclosure in the Sale of Real Property Updated
Consumer Protection Updated
Property Insurance – Reinsurance:
Florida Hurricane Catastrophe Fund and Reinsurance Assistance ̶ HB 1293 by Rep. Hillary Cassel (D-Dania Beach). While this bill doesn’t appear to be moving, property insurance rates are still the number one issue on Floridian’s minds as weighting down their pocketbooks. We are hopeful that the behind-the-scenes discussions about reducing the cost of reinsurance and using our state’s reinsurance fund (The Florida Hurricane Catastrophe Fund) is in the cards. Most insurers are able to buy their reinsurance and all indicators are that reinsurance prices will not be meteoric as in the past two years. What would be nice is to see if we could help consumers with a reduction in reinsurance costs that would translate to some savings in their ultimate premium. Stay tuned! The bill eliminates the rapid cash buildup factor for one year; resets the attachment point at the 2023 contract year figure of $8.5 billion; reauthorizes the RAP and FORA programs; requires the Cat Fund to pay actual loss adjustment expense; allows insurance companies an option to purchase 100% coverage; requires the Cat Fund rates to be based on an average of all seven approved catastrophe models; requires cat fund rates to be filed with the Florida Office of Insurance Regulation (OIR); and clarifies the statute that the Cat Fund’s claims-paying capacity limit is $17 billion. An identical bill has been filed in the Senate (SB 1668) by Senator Nick DiCeglie (R-St. Petersburg) but like HB 1293, has not received a hearing. (Return to Top of List)
Property Insurance – Regulation & Claims:
Policy Cancellations and Nonrenewals by Property Insurers ̶ SB 1104 and the similar HB 1149 by Senator Jennifer Bradley (R-Fleming Island) and Rep. Adam Botana (R-Bonita Springs) would put new restrictions on insurance companies cancelling or nonrenewing policies, with a focus on flood damage – regardless of whether an insurance policy provides coverage for the damage or not. This bill is spurring quite the debate. I find it troubling that we would want to put this kind of language in statute. As a former regulator, if there are insurers who need to cancel risks post storm, there must be a reason and the regulators will find out at the time. It is bad public policy to mandate in statute that an insurer can’t nonrenew policies when some might need to take such drastic steps post storm to keep their doors open. The bill was heard last week in the Senate Banking and Insurance Committee, passed unanimously, and most insurance organizations opposed it. The Florida Association of Insurance Agents (FAIA) is a proponent and backer of the bill, which is not scheduled for its next hearing this week. The companion House Bill 1149 has not been heard in committee and is most likely dead, pending any scheduling this week before the Insurance & Banking Subcommittee, it’s last week to meet. Without the House bill having had a hearing, the Senate bill on its own in current form, most likely will not proceed.
Specifically the bill:
- Prohibits admitted and surplus lines insurance companies from cancelling or nonrenewing commercial policies (including commercial residential, such as condominium complexes) until 90 days after the property has been repaired from a wind loss or hurricane, including flood damage, if the property was covered by any flood insurance policy. If the property wasn’t covered for flood, the company must wait until the property is repaired or one year after the loss (or one year after a final claim payment) – whichever is earlier.
- If a company chooses to cancel or nonrenew one of the above policies, it must provide at least 90 days’ notice of its intent to do so, which can coincide with the above 90 day requirement.
- If a policy is extended or renewed, it must contain the same policy terms as the original policy.
- The only exceptions to the above: if the insurance company has paid policy limits for a personal residential policy loss, or policy limits for a loss to each insured structure under a commercial residential policy; for nonpayment of premium; material misstatement or fraud related to the claim; or if the carrier determines that the policyholder unreasonably caused a delay in the repairs. (Return to Top of List)
Department of Financial Services ̶ HB 989 by Rep. Chip LaMarca (R-Lighthouse Point) and SB 1098 by Senator Nick DiCeglie (R-St. Petersburg) are the annual omnibus bills that touch on the many regulations and responsibilities of the Florida Department of Financial Services (DFS), including insurance. Here’s what we’re watching:
- Section 11: Requires insurance companies to designate a contact person for escalated consumer complaints.
- Section 16: Requires adjusters to identify the type of adjuster appointment held in any written document or advertising; and prohibits an adjuster who has lost their state license from participating in any part of the claims process.
- Section 19: Requires insurance companies to put the notice of change in policy terms in a one-page summary with any policy renewal sent to the consumer.
Both bills were heard last week and passed their first committee stops in both the house and senate insurance/banking committees. The bills are “noncontroversial” for most stakeholders and look to pass through their chambers without any obstacles. (Return to Top of List)
Insurance ̶ SB 1622 by Senator Jay Trumbull (R-Panama City) increases regulation of reciprocal insurance exchanges, which are a form of insurance organization in which individuals and businesses exchange insurance contracts and spread the risks associated with those contracts among themselves. The beginning of the bill strengthens regulators’ control over nonrenewal and cancellations (gives the Financial Services Commission authority to write rules on the topic) and changes decades-old insurance company quarterly reporting of financial and company operations to monthly. This appears to be an Office of Insurance Regulation backed bill. The bill also has a section that is comparable to the Citizens Insurance bills SB 1611 and HB 1015 in this Bill Watch. SB 1622 is scheduled to be heard in the Senate Banking and Insurance Committee today at 1.30 pm. The new version of the bill changes some of the provisions in the original bill regulating reciprocal exchanges, clarifies that surplus lines insurers are subject to the same laws as admitted companies regarding unrepaired damage and the parameters around nonrenewals post storm, and still requires monthly versus quarterly reporting. (Return to Top of List)
Litigation Financing ̶ SB 1276 by Senator Jay Collins (R-Tampa) and the identical HB 1179 by Reps. Tommy Gregory (R-Lakewood Ranch) and Toby Overdorf (R-Palm City) both received their first hearing in committees last week, with HB 1179 scheduled to receive its second hearing today (January 29) at 11:30am before the Justice Appropriations Subcommittee. The Senate bill passed its committee unanimously, but the House bill passed with a 10-7 vote and today’s vote is expected to be close as well. Some Republican lawmakers have joined with their Democratic colleagues in expressing reservations on limiting or regulating such litigation. The bills received wide press coverage last week, including the Sun-Sentinel’s Who’s funding your lawsuit? Florida bills would require disclosure.
These bills pick up where past efforts in recent sessions made no progress in regulating third-party funding of lawsuits against businesses, including insurance companies. To be called the “Litigation Investment Safeguards and Transparency Act” the bill requires a court’s consideration of potential conflicts of interest which may arise from the existence of a litigation financing agreement in specified circumstances; prohibits specified acts by litigation financiers; requires certain disclosures related to litigation financing agreements and the involvement of foreign persons, foreign principals, or sovereign wealth funds; and requires the indemnification of specified fees, costs, and sanctions by a litigation financier in specified circumstances, among other provisions. (Return to Top of List)
Property Insurance – Condominium & Homeowners Associations:
Hurricane Protections for Homeowners’ Associations ̶ SB 600 by Rep. Tyler Sirois (R-Merritt Island) and the identical HB 293 by Senator Blaise Ingoglia (R-Spring Hill) requires a homeowners association committee or board to adopt hurricane protection specifications that conform to applicable building codes. It also prohibits the committee or board from denying an application to install or enhance certain hurricane protections and contains provisions for adhering to guidelines on the external appearance of buildings. HB 293 passed again unanimously in its second of three committees last week and is awaiting its third and last hearing in the House Commerce Committee. SB 600 is scheduled to have its first hearing today (January 29) at 4 pm in Senate Regulated Industries Committee. (Return to Top of List)
My Safe Florida Home Program (MSFH) ̶ On January 11, SB 7028 was released and for all intents and purposes replaced SB 1208 by Senator Jonathan Martin (R-Fort Myers). The bill last week passed the Senate Banking and Insurance Committee unanimously and is scheduled to be heard on Wednesday January 31 at 9 am in the Senate Fiscal Policy Committee, its last committee stop before heading to the Senate floor. The bill analysis lists the changes to the MSFH program, the most notable of which is that the grant award criteria will give preference to Floridians over 60 and low income. HB 1263 by Rep. Chip LaMarca (R-Lighthouse Point) is similar to SB 7028 but has not been heard in a House Committee yet. These bills revise provisions in this popular program that offers free home inspections and grants of up to $10,000 on a $2 to $1 match to incentivize homeowners to harden their homes from future hurricanes. The legislature re-established the program in 2023 but by mid-summer the number of applications exceeded the $100 million program funding. The legislature in special session in November 2023 pumped another $176 million into the program, and this bill funds another $100 million in the upcoming fiscal year July 1.
Also, SB 1208 and HB 1143 by Senator Jonathan Martin (R-Fort Myers) and Rep. Lindsay Cross (D-St. Petersburg) would add flood protection improvements, including elevating structures, to the existing program. Neither has been scheduled to receive a hearing and are therefore dead as stand-alone bills. (Return to Top of List)
Property Insurance – Citizens Property Insurance Corporation:
Citizens Property Insurance Corporation ̶ SB 1716 by Senate Banking and Insurance Committee Chairman Jim Boyd (R-Bradenton) is scheduled to have its first hearing today (January 29) at 1.30 pm in the Senate Banking and Insurance Committee. The bill authorizes surplus lines companies to do takeouts of Citizens’ non-homesteaded residential properties, such as second homes. The bill also changes the long standing “consumer choice” provisions in statute where the agent of record controls whether the policy comes out of Citizens or not. It also makes needed reference changes reflecting that combining Citizens three accounts into one will make it much less likely that Citizens policyholders will face a future surcharge and even more unlikely that non-Citizen policyholders will face an emergency assessment from a future catastrophe. It is comparable to HB 1213 (now in the “Bills Not in Play” section below). (Return to Top of List)
Flood Insurance:
Flood Damage Prevention ̶ SB 1766 by Senator Ana Maria Rodriguez (R-Miami) is scheduled to be heard tomorrow (Tuesday, January 30) at 1 pm in the Senate Environment & Natural Resources Committee. It was passed unanimously last week in the Senate Banking and Insurance Committee. The identical HB 749 by Rep. Fabián Basabe (R-Miami Beach) has not been scheduled for a hearing. Both bills are significant, seeking to improve building regulation and flood mitigation. To be titled the “Flood Damage Prevention Act of 2024,” it specifies a maximum voluntary freeboard requirement of 10 feet for new construction and substantial improvements to existing construction. The bill also prohibits voluntary freeboard from being used in the calculation of the maximum allowable height for certain construction; and requires the Florida Building Commission to develop and adopt by rule minimum freeboard requirements by a specified date and to incorporate such requirements into the next edition of the Florida Building Code, among other provisions. (Return to Top of List)
Consumer Protections:
Consumer Protection ̶ SB 1066 by Senator Colleen Burton (R-Lakeland) and the identical HB 939 by Rep. Griff Griffitts, Jr. (R-Panama City Beach) is a multi-part bill. Both bills were early this session and passed out of their first respective committees but are not scheduled this week for second hearings. The difference between the bills is the time limit to file condominium unit owner loss assessment claims. The House bill provides the filing deadline to be triggered by when the condo board votes to enact the assessment. The Senate bill provides that a claim must be given to the insurer within 90 days after the date on which the condominium association board votes to levy the assessment if the board votes within 33 months after the date of the loss that created the need for the assessment. Both bills include requiring contractors put in big letters on their contracts that a homeowner has 10 days to rescind repair/replacement of their roof after a hurricane; and (on lines 440-444) puts public adjusters on the hook now for condominium associations and apartment complexes for various solicitation and contractual requirements that previously just applied to single-family homes and condo units. (Return to Top of List)
Property Insurance – Regulation & Claims:
Personal Lines Residential Property Insurance ̶ HB 809 and the identical SB 1070 by Rep. Alina Garcia (R-Miami) and Senator Ileana Garcia (R-Miami) requires insurance companies before writing a traditional personal lines residential property insurance policy to offer instead a policy that covers losses equal to only the unpaid principal balance of all mortgage loans on the property. It requires a signed statement by the purchaser acknowledging “the significant financial losses” they may incur for damage that exceeds such coverage. The bill also prohibits insurance companies from requiring a coverage limit that includes the value of the land upon which the dwelling sits. As neither bill has received its first hearing (pending any scheduling this week before the House the Insurance & Banking Subcommittee, it’s last week to meet) these bills are most likely dead. (Return to Top of List)
Access by Insureds to Claim-related Documents ̶ SB 1726 and the identical HB 1287 by Senator Jonathan Martin (R-Fort Myers) and Rep. Hillary Cassel (D-Dania Beach) defines the term “claim-related documents” and requires insurance companies notify policyholders and certain parties that they may obtain copies of all claim-related documents upon request. It also requires companies provide to policyholders, their agents and attorneys, copies of all claim-related documents within a specified timeframe after receiving requests, among other provisions. As neither bill has received its first hearing (pending any scheduling this week before the House the Insurance & Banking Subcommittee, it’s last week to meet) these bills are most likely dead. (Return to Top of List)
Financial Strength of Property Insurers ̶ SB 1724 and the similar HB 1661 by Senator Erin Grall (R-Fort Pierce) and Rep. Spencer Roach (R-North Fort Myers) sets up an independent rating agency for Florida’s domestic property insurance companies. It defines a financial strength rating and an independent rating agency, among other qualifications. Neither bill has been scheduled to receive a hearing. (Return to Top of List)
Property Insurance – Condominium & Homeowners Associations:
Condominium Windstorm Pilot Program ̶ HB 655 by Rep. Hillary Cassel (D-Dania Beach) and the identical SB 802 by Senator Ana Maria Rodriguez (R-Miami-Dade) attempts to provide help for condominium complexes seeking basic wind-only coverage. The bill would require the Office of Insurance Regulation (OIR) to create a pilot program for commercial residential coverage with Citizens Property Insurance for actual cash value (ACV) coverage rather than replacement cost value. A condominium association would have to receive a majority vote of its members in order to participate in the pilot program. The Citizens policy would be required to ensure the ACV of the residential condominium association’s roof aligns with the reserves required under HB 5-D and passed under HB 4-D in the May 2022 special session. The condo complex would also be required to have biannual roof inspections and submit those along with the most recent structural integrity reserve study to Citizens. The program would begin July 1, 2024 and sunset five years later. If passed, it is expected to increase the Citizens policy count. Citizens Chairman Carlos Beruff at its Exposure Reduction Committee meeting in December commented “I don’t want to be the Lloyd’s of London of Florida where we’re creating insurance products just because we can.” Neither bill has been scheduled to receive a hearing. (Return to Top of List)
My Safe Florida Condominium Pilot Program ̶ SB 1366 and the identical HB 1029 by Senator Nick DiCeglie (R-St. Petersburg) and Reps. Vicki Lopez (R-Miami) and Rep. Christine Hunschofsky (D-Parkland) would apply the popular homeowners program of the same name to condominium complexes & individual condo unit owners in an initial pilot program. The program includes requirements on associations and unit owners that choose to participate, required inspections, and on the hurricane mitigation inspectors who perform the services. Neither bill has been scheduled to receive a hearing. (Return to Top of List)
Property Insurance – Citizens Property Insurance Corporation:
Citizens Property Insurance Corp. ̶ SB 604 and the similar HB 565 by Senator Ana Maria Rodriguez (R-Miami-Dade) and Rep. Jim Mooney, Jr. (R-Islamorada) and Rep. Vicki Lopez (R-Miami) would create a special carve-out to the legislatively-created rate glide path for Citizens with its annual mandatory rate increase caps. It also relaxes the requirements that Citizens policyholders carry flood insurance.
The carve-out is specially tailored to Monroe County (the Florida Keys) policyholders who have complained for years about what they say is higher than appropriate premiums. But it also includes the densely populated Miami-Dade County, home to some of the highest insured values in Florida. The bill requires that in those two counties and in counties where there is not a reasonable degree of competition that Citizens cap annual rate increases to 10% compared to the graduated cap for the rest of the state that will be 13% in 2024. The Citizens Board of Governors in December 2023 expressed concern that the bill represents backward progress on growing the rate cap glide path and will make Citizens the only insurer in Monroe and Miami-Dade counties. It also increases Citizens’ Coverage A limit from $1 million to $1.5 million in counties that have been designated as areas with no competition (Miami-Dade and Monroe Counties). The bill also further relaxes the flood insurance requirement by exempting policies for structures that are elevated at least 1 foot above the flood zone’s minimum base flood elevation. Neither bill has been scheduled to receive a hearing. (Return to Top of List)
Coverage by Citizens Property Insurance Corp. ̶ HB 889 by Rep. Kim Berfield (R-Pinellas County) broadens the eligibility to qualify for a Citizens policy, removes the rate cap glide path and adds a surcharge on higher value policies, and prohibits some higher value policies from Citizens coverage if a comparable private market policy is available – regardless of price. Specifically the bill:
- Expands Citizens by allowing it to write policies with a dwelling replacement cost (houses) or dwelling and contents replacement cost (condo units) of up to $1 million (up from the current limit of up to $700,000 coverage) which in LMA’s opinion does not contribute to a healthy private market.
- Eliminates the legislatively-set glide path cap on rate increases for policies with dwelling replacement cost (houses) or dwelling and contents replacement cost (condo units) of $700,000 or more.
- Requires a surcharge on the above homes and condo units of $700,000 or more coverage that is equal to the lesser of $2,500 or 25% of the Citizens’ rate to ensure Citizens’ rates are not competitive with the private market.
- Removes eligibility for a Citizens policy for the above homes and condo units of $700,000 or more coverage if there is comparable coverage offered from a private market company under a standard policy that includes wind coverage.
The companion to HB 889, SB 1106 by Senator Ed Hooper (R-Palm Harbor) passed unanimously in the Senate Banking and Insurance Committee on January 16, despite Chairman Jim Boyd (R-Bradenton) expressing concern at growing Citizens. However, given HB 889 has not been heard in committee, pending any scheduling this week before the Insurance & Banking Subcommittee, its last week to meet, these bills collectively are dead. Senator Boyd’s bill above, SB 1716, previously had some of the elements of HB 899 in expanding Citizens dwelling replacement cost limits to up to $1 million. Those provisions have since been removed from his bill. (Return to Top of List)
Windstorm Coverage by Citizens Property Insurance Corporation ̶ HB 1213 by Rep. Spencer Roach (R-North Fort Myers) requires Citizens to make windstorm coverage available to homeowners of any residential and commercial residential structures. It provides underwriting & administering requirements for the windstorm coverage portion of policies and also removes provisions relating to windstorm risk apportionment plan agreements among property insurance companies. The bill currently has no direct Senate companion bill.
There is a comparable bill in HB 893 and its similar Senate bill SB 1428 by Rep. Vicki Lopez (R-Miami) and Senator Nick DiCeglie (R-St. Petersburg). The Senate bill allows Citizens to amend areas it deems eligible for wind-only coverage and develop new criteria and rates for personal residential, commercial residential, and commercial nonresidential policy coverages. None of these bills has been scheduled to receive a hearing. (Return to Top of List)
There are other filed property insurance bills that we are watching but have shown little or no signs of movement. You can fully review them here. They include:
HB 1191, Assignment of Benefits for Surplus Lines Insurers by Rep. Tom Fabricio (R-Miami Lakes)
HB 625, Property Insurance Coverage by Rep. James Buchanan (R-Osprey).
HB 41, Mortgage Loans and Insurance Payments Grant Program by Rep. Jervonte “Tae” Edmonds (D-Palm Beach)
HB 329 / SB 860, Financial Assistance for Homeowners by Rep. Jervonte “Tae” Edmonds (D-Palm Beach), Rep. Jennifer “Rita” Harris (D-Orlando), Rep. Michelle Rayner (D-St. Petersburg) and Senator Shevrin “Shev” Jones (D-Miami Gardens)
SB 348, Insurance Rebate Program for Low-Income Seniors by Senator Lauren Book (D-Davie)
HM 371, Federal Catastrophe Pool by Rep. Kelly Skidmore (D-Boca Raton)
SB 102 / HB 1017, Property Insurance by Senator Shevrin “Shev” Jones (D-Miami Gardens) and Rep. Tae Edmonds (D-West Palm Beach)
SB 178, Resolution of Disputed Property Insurance Claims by Senator Tina Polsky (D-Boca Raton)
SB 500, Surplus Requirements for Residential Property Insurers by Senator Linda Stewart (D-Orlando) (Return to Top of List)
Auto Insurance:
Motor Vehicle Insurance ̶ HB 653 and the identical SB 464 by Rep. Danny Alvarez (R-Brandon) and Senators Erin Grall (R-Fort Pierce) and Senator Darryl Rouson (D-St. Petersburg) is a perennial effort to do away with Personal Injury Protection (PIP) coverage under Florida’s No-Fault insurance law and replace it with bodily injury (BI) liability coverage. The primary difference between PIP and mandatory BI is that under PIP, someone injured in an auto accident seek coverage first under their own PIP policy, whereas under mandatory BI, someone injured in an auto accident would seek recovery from a responsible third-party’s (other driver’s) BI coverage. The bills are similar to the bill vetoed in 2021 by Governor DeSantis, and filed again in 2022 and 2023. Last spring’s bills were never heard by a committee. Neither bill has been scheduled to receive a hearing this session. (Return to Top of List)
Insurance Claims ̶ HB 731 by Rep. Adam Botana (R-Bonita Springs) requires insurance companies to report to the Office of Insurance Regulation (OIR) the recovery of funds from automobile claim judgments, settlements, and attorney fees and costs, as well as repayment of claims paid from unlawful acts. OIR, in turn, would be required to consider recovery of those funds in reviewing companies’ rates. The bill also specifies that a policyholder’s payment of a deductible or copayment is not a condition of a carrier’s payment obligations. There is a similar bill in the Senate (SB 1024) by Senator Erin Grall (R-Fort Pierce). Neither bill has been scheduled to receive a hearing. (Return to Top of List)
Consumer Protections:
Flood Disclosure in the Sale of Real Property ̶ SB 484 and the similar HB 1049 by Senator Jennifer Bradley (R-Fleming Island) and Rep. Christine Hunschofsky (D-Parkland) would require a seller of real property to disclose in writing a variety of flood information to a prospective purchaser before executing a contract for the sale of the property. This includes:
- Whether the property has flooded before and if so, the frequency.
- Whether the property owner has maintained flood insurance.
- Whether any portion of the property is located in a FEMA-designated Special Flood Hazard Area (SFHA) or moderate risk flood hazard zone.
- Whether the seller has ever received federal assistance for flood damage to the property.
- Whether the seller has ever filed a claim with the National Flood Insurance Program (NFIP) or any other insurance provider relating to flood damage.
- Whether a Federal Emergency Management Agency elevation certificate is available for the property.
Similar bills in the 2023 session never received a hearing. Neither bill has been scheduled to receive a hearing in this session. (Return to Top of List)
LMA Newsletter of 1-29-24
