Recap of Week 9: End of 2024 Session
The Florida House of Representatives final budget discussion and passage on March 8, 2024. Courtesy, The Florida Channel
It has been a pleasure to write to you every week and share the 2024 Florida legislative happenings. We started this session nine weeks ago with high hopes that we would see some continued revisions to Florida’s litigation statutes to close the loopholes left open in the 2022-23 law changes. We also thought we would see increased conversations about the Florida Hurricane Catastrophe Fund to use its resources to stem rate increases, and we felt like there would be a push for Citizens Property Insurance to become less competitive with the private market. Unfortunately, none of these ideas passed.
Instead, the 2024 Florida Legislature has been a hive of activity, shaping policies and enacting laws that significantly impact the lives of Floridians, but not necessarily their pocketbook when it comes to significantly reducing the burden of high property insurance rates. The legislature did provide a small amount of property insurance tax relief (about 4% or average of $60 per policyholder) with the passage of a one-year elimination of the insurance premium tax for personal residential property insurance policies written between October 1, 2024 and September 30, 2025, for a twelve-month coverage period. This, together with an exemption on the State Fire Marshall Assessment, would save Florida policyholders $554.7 million, according to a Florida TaxWatch post-session analysis.
The legislature also provided one-year of insurance premium tax relief on flood insurance policies, both residential and commercial, written between October 1, 2024, and September 30, 2025, for a twelve-month coverage period. That’s an additional $15 in savings per average policy. Other tax breaks are the traditional sales tax holidays for school supplies, hurricane preparations, etc. and if you drive the turnpike your tolls will be 50% less if you use it 35 times a month! State workers will get a 3% raise
The 2024 session saw 1,957 bills filed and 2,196 subsequent amendments. After 3,051 votes and 43 floor sessions, in the end 325 bills passed both chambers and were sent to the Governor for consideration. We are great partners with the News Service of Florida and its Executive Editor Jim Saunders and his team have done an excellent job of cataloging the top 10 issues of this session, which you can read here. Please consider supporting their fine journalism with a subscription. In addition, bills expanding funding the Florida Wildlife Corridor and overhauling state energy laws were approved.
House Appropriations Chair Tom Leek leading the final budget discussion on March 8, 2024. Courtesy, The Florida Channel
Lawmakers approved a $117.46 billion state budget for the new fiscal year beginning July1, down from the current year’s $119.1 billion budget. The Governor, who has line-item veto power, had proposed a $114.4 billion budget, House Appropriations Committee Chair Tom Leek (R-Ormond Beach) declared “This budget is on time , balanced and lean.” (You can watch the final budget discussion here, beginning at timecode 1 hour, 40 minutes.)
Besides these mega topics, bills passed that bar young women under the age of 21 from working in adult entertainment establishments, prevent local governments from specifying the wages paid to workers of government contractors or forcing contractors to provide heat exposure protections, deregulate traditional public schools so they have a level playing field with public charter schools, stop local governments from regulating electric vehicles, and ban lab-cultivated meat (that just doesn’t sound appetizing!)
This session has witnessed passionate debates, collaborative efforts, and landmark decisions that reflect the priorities of Florida’s elected representatives, which some would say are not necessarily the ones Floridians would have chosen! It was terrific to hear from so many of you that wanted to know more about the happenings in Tallahassee. I enjoyed our discussions and look forward to more of that this summer! With the end of session comes the end of our weekly newsletters. We’ll return on our regular bi-monthly schedule on March 25.
This Bill Watch clearly labels bills that DID NOT PASS and those that PASSED. PASSED bills require the Governor’s signature to become law, unless otherwise noted.
Here is the list of legislative bills we followed in this past 60-day session. You can click the bill link in the list below to go directly to the bill and its details further below. Updates within each bill are noted in blue font:
PASSED
Department of Financial Services
Insurance
Hurricane Protections for Homeowners’ Associations
Community Associations
My Safe Florida Condominium Pilot Program
My Safe Florida Home Program
Citizens Property Insurance Corporation
Consumer Protection
Flood Disclosure in the Sale of Real Property
DID NOT PASS
Policy Cancellations and Nonrenewals by Property Insurers
Litigation Financing
Florida Hurricane Catastrophe Fund and Reinsurance Assistance
Personal Lines Residential Property Insurance
Access by Insureds to Claim-related Documents
Financial Strength of Property Insurers
Condominium Windstorm Pilot Program
Citizens Property Insurance Corp.
Coverage by Citizens Property Insurance Corp.
Windstorm Coverage by Citizens Property Insurance Corporation
Other filed property insurance bills
Motor Vehicle Insurance
Insurance Claims
Flood Damage Prevention
Department of Financial Services ̶ PASSED ̶ 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. The bill passed and is on its way to the Governor’s office with Commerce Committee Chairman Rommel’s preferred language that was the subject of his HB 585 (which passed the full House but the Senate companion didn’t move) that requires financial institutions who suspend, terminate, or take similar action restricting access to a customer’s account to file a report with the Office of Financial Regulation (you can read more here). This bill has a whole host of changes in bullet form that you can read here.
The CFO’s office also was successful in improving the service provided by the DFS’s Division of Insurance Consumer Services. The 2024 legislature approved DFS’ budget request for nearly $7 million to strengthen the Division through increased staffing, field offices, mediation services, and training to better serve Florida insurance policyholders and short-circuit claims issues before they escalate, especially following disasters. DFS also secured $560,000 in funding for Artificial Intelligence (AI) tools to better serve insurance consumers on the state’s insurance helpline and ensure carriers have personnel to troubleshoot and expedite claims. (Return to Top of List)
Insurance ̶ PASSED ̶ SB 1622 by Senator Jay Trumbull (R-Panama City) and HB 1611 by Rep. Cyndi Stevenson (R-St. Johns) 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. HB 1611 passed the legislature without the provision requiring insurers to stay on unrepaired flood risk. It does, however, clarify under what conditions an insurer must stay on a wind risk post storm. Here is the latest bill analysis on the Senate version which is substantially the bill that is on its way to the Governor for signature.
One of our longtime insurance professional leaders, and lawyer shares the following analysis.
The bulk of the 56-page bill deals with the rewriting of Section 629 – the section of the law dealing with reciprocal insurance exchanges which have become quite fashionable in Florida.
The sections of the new law which are relevant to our operation include:
- On page 9 section 624.424 of the law which deals with required reporting to the OIR changes QUASR reporting from quarterly to monthly and requires the data to be submitted by zip code rather than by county. (see amendment to 624.424(10)(a) which begins at line 205)
- Current law requires that companies planning to cancel or non-renew 10,000 or more personal residential policies within a 12 month period provide the OIR with at least 90 days notice of their plans. On page 10 line 239 of this bill the OIR is given specific authority to adopt rules to implement and enforce this requirement.
- Section 626.9201 of Florida statutes governs the cancellation and non-renewal of policies. This bill creates a new section of the law, 626.9201(2)(c), which prohibits the non-renewal of homes damaged by a hurricane until 90 days after the home has been completely repaired. There are some exceptions (i.e policy limits have been paid, non-cooperation by the insured, etc). The new language begins on page 16, line 392..
- Most companies use one approved computer model to determine their rates for hurricane coverage, However, Florida law permits the use of multiple models. Beginning on page 18, line 447, this bill amends 627.062(2)(j)2 to clarify how the calculations for a company using multiple computer models will be made.
- Citizens is now permitted to increase rates on non-primary homes by up to 50% annually until the rates charged are both actuarially sound and non-competitive. Language beginning on page 21 line 515 of this bill amends 627.351(6)(n)8 to make it clear that the higher rates apply to both new and renewal business covering non-primary homes.
- FS627.7011 deals with the offer of replacement cost coverage and law and ordinance coverage on homeowners insurance. A portion of that section of Florida law also deals with home inspections. This bill adds roofing contractors to the list of authorized inspectors. The current list of authorized inspectors includes licensed building inspectors, home inspectors, architects, engineers, and general contractors. The new language begins on page 21 line 548. (Return to Top of List)
Hurricane Protections for Homeowners’ Associations ̶ PASSED ̶ SB 600 by Senator Blaise Ingoglia (R-Spring Hill) and the identical HB 293 by Rep. Tyler Sirois (R-Merritt Island) 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. The Senate and House bill were identical and HB 293 is headed to the Governor for signature and the House bill analysis is a terrific summary of what finally passed. (Return to Top of List)
Community Associations ̶ PASSED ̶ HB 1021 by Rep. Vicki Lopez (R-Miami) and SB 1178 by Senator Jennifer Bradley (R-Fleming Island) focus on reshaping and enforcing accountability for condominium and homeowners association board members, an issue discussed in our November 20 newsletter last year. HB 1021 passed unanimously in both the House and Senate and is on its way to the Governor for his expected signature. The bill allocates $7.4 million ($6.1 million in recurring funds) to pay for administration of the bill’s provisions, including 65 new full-time Department of Business and Professional Regulation (DBPR) employees for enforcement. The bill overhauls current statutes to impose criminal penalties for violations and fraud on condominium boards, other community and homeowners associations, and their elections. The bill outlines new education requirements for condo managers, requires building records to be available online, and clarifies obligations surrounding hurricane protection. Perhaps most importantly, the bill strikes text from Florida Statutes that has hindered the DBPR from enforcing condo association laws, as we outlined in our November article. This is part of an ongoing reform effort by the legislature following the collapse of Champlain Towers South, a tragedy which claimed the lives of 98 condo residents in Surfside, Florida in June of 2021, which since has highlighted the shortcomings in state law, infrastructure, and governance. (Return to Top of List)
My Safe Florida Condominium Pilot Program ̶ PASSED ̶ SB 1366 by Senator Nick DiCeglie (R-St. Petersburg) and the identical HB 1029 by 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. The legislature passed HB 1029 which was identical to SB 1366 and they agreed to fund $30 million for the pilot program. You can read the latest House bill analysis, which is still accurate, as well as this story recently in the Sun-Sentinel. (Return to Top of List)
My Safe Florida Home Program (MSFH) ̶ PASSED ̶ On January 11, SB 7028 was released that for all intents and purposes replaced SB 1208 by Senator Jonathan Martin (R-Fort Myers). The bill passed the full Senate and is on its way to the Governor. The bill analysis of companion HB 7028 accurately 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. 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. (Low income individuals are exempt from having to match.) The legislature appropriated $200 million this next fiscal year to fund additional grants. That’s enough for 20,000 homes if everyone applies for the maximum grant. 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. There have been more than 100,000 free home inspections and there is nearly $400 million in home hardening grants waiting for the home improvements to be completed. Homeowners have shared they received a discount on average of $1000 on their insurance premium following completion of the program.. (Return to Top of List)
Citizens Property Insurance Corporation ̶ PASSED ̶ SB 1716 by Senate Banking and Insurance Committee Chairman Jim Boyd (R-Bradenton) and the similar HB 1503 by Rep. Tiffany Esposito (R-Ft. Myers) passed under HB 1503 and is on its way to the Governor. There was significant questioning by legislators concerned about Surplus Lines insurers removing second homes from Citizens Property Insurance in the policy takeout process. The provision allowing the Insurance Commissioner to determine if Citizens should raise their coverage cap up to $1 million based on scarcity of coverage did not pass. The bill contains other provisions such as allowing Citizens to combine its 3 property line accounts into one so they are stronger financially which 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 ensures the Citizens name is protected from others that want to use it, allows surplus lines companies to takeout second, non-homesteaded homes, and requires an agent to have three appointments with insurers actually writing coverage in order to secure an appointment with Citizens. (Return to Top of List)
Consumer Protection ̶ PASSED ̶ 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. These bills, as required for passage, were identical and HB 939 passed and will be sent to the Governor. The bill has a provision that a homeowner can cancel a construction contractor agreement signed after an emergency declaration within a 10-day time period and the contractor has to have a specified notice in their contract about this cancellation provision. We have taken the liberty to list the sections of this bill that would affect our insurance company readers, which you can read here. The Senate bill analysis is the closest reflection of the other parts of the approved bill. (Return to Top of List)
Flood Disclosure in the Sale of Real Property ̶ PASSED ̶ 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. HB 1049 is on its way to the Governor. You can read the bill analysis of the approved bill. (Return to Top of List)
Policy Cancellations and Nonrenewals by Property Insurers ̶ DID NOT PASS ̶ SB 1104 and the similar HB 1149 by Senator Jennifer Bradley (R-Fleming Island) and Rep. Adam Botana (R-Bonita Springs) would have 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 flood damage or not. There were two Insurance Journal stories this session that highlighted the opposition to these bills, including last week’s Insurer CEO Warns Limits on Cancellations Will Deter Carriers From Florida Market. The previous Insurance Journal story about these bills, released the week before, quoted the President of the Professional Insurance Agents (PIA) of Florida, Lori Augustyniak as saying, “The Legislature has made some significant reforms in the last two years. Let’s give those time to work and take a pause on this.” I have the privilege of being one of PIA’s advocates and applaud the organization for having a reasoned approach. There were several attempts by those supporting the bill to get these bill’s provisions across the finish line with requiring insurers to stay on a flood risk for 270 days if OIR determined an event to be a flood event and identifying certain zip codes where homes were damaged. In the end, these bills were a bridge too far given that it was clear they would stifle investors, harm consumers because companies would just stop writing wind coverage in flood prone areas, and remove the insurance commissioner’s discretion to determine what is best for a carrier’s solvency after a storm. (Return to Top of List)
Litigation Financing ̶ DID NOT PASS ̶ 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) pick up where past efforts in recent sessions made no progress in regulating third-party funding of lawsuits against businesses, including insurance companies. Despite the Senate bill making it through all of its committees and the House bill getting through its initial committee, neither reached a floor vote. Some Republican lawmakers joined with their Democratic colleagues in expressing reservations on limiting or regulating such litigation. The bills received wide press coverage, including the Sun-Sentinel’s Who’s funding your lawsuit? Florida bills would require disclosure.
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)
Florida Hurricane Catastrophe Fund and Reinsurance Assistance ̶ DID NOT PASS ̶ HB 1293 by Rep. Hillary Cassel (D-Dania Beach). While this bill didn’t move, property insurance rates are still the number one issue on Floridian’s minds as weighting down their pocketbooks. We were 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) was 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. 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 had been filed in the Senate (SB 1668) by Senator Nick DiCeglie (R-St. Petersburg) but like HB 1293, did not receive a hearing. (Return to Top of List)
Personal Lines Residential Property Insurance ̶ DID NOT PASS ̶ 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. Neither bill received a hearing. (Return to Top of List)
Access by Insureds to Claim-related Documents ̶ DID NOT PASS ̶ SB 1726 by Senator Jonathan Martin (R-Fort Myers) and the identical HB 1287 by 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. Neither bill received a hearing. (Return to Top of List)
Financial Strength of Property Insurers ̶ DID NOT PASS ̶ 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 received a hearing. (Return to Top of List)
Condominium Windstorm Pilot Program ̶ DID NOT PASS ̶ 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 received a hearing. (Return to Top of List)
Citizens Property Insurance Corporation. ̶ DID NOT PASS ̶ 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 received a hearing. (Return to Top of List)
Coverage by Citizens Property Insurance Corp. ̶ DID NOT PASS ̶ 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. The companion to HB 889, SB 1106 by Senator Ed Hooper (R-Palm Harbor) unanimously passed both the Senate Banking and Insurance Committee in January and the Appropriations Committee on Agriculture, Environment, and General Government on February 13, but there has been no further movement since. You can read the latest Senate bill analysis. Given HB 889 never made the agenda of the House Insurance & Banking Subcommittee, these bills collectively died. Specifically the Senate 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. (Return to Top of List)
Windstorm Coverage by Citizens Property Insurance Corporation ̶ DID NOT PASS ̶ 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 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. HB 893 was passed on February 6 in the House Insurance and Banking Subcommittee; however, SB 1428 never received a hearing. (Return to Top of List)
There were other filed property insurance bills that we were watching but that received no traction and DID NOT PASS. 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)
Motor Vehicle Insurance ̶ DID NOT PASS ̶ 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 received a hearing. (Return to Top of List)
Insurance Claims ̶ DID NOT PASS ̶ HB 731 by Rep. Adam Botana (R-Bonita Springs) passed its first committee on February 6 by a 15-1 vote in the House Insurance & Banking Subcommittee. It 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) that never received a hearing. (Return to Top of List)
Flood Damage Prevention ̶ DID NOT PASS ̶ SB 1766 by Senator Ana Maria Rodriguez (R-Miami) passed on January 30 in the Senate Environment & Natural Resources Committee and awaits its third committee stop. However, the similar 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,” the Senate bill 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)
LMA Newsletter of 3-11-24
