Bill > S1464

This bill, titled the "Fair Settlement Act," makes several changes to Florida's insurance laws. It revises the circumstances under which insurers must be given a pre-suit notice before a civil action can be brought against them. It requires insureds, claimants, or their representatives to provide insurers with a written notice of loss as a condition precedent to pursuing a bad faith claim. The bill also limits an insurer's liability to third-party claimants in certain circumstances if the insurer files an interpleader action within 90 days of receiving notice of competing claims exceeding the available policy limits. Additionally, the bill specifies that the trier of fact must consider whether the insured, claimant, or their representative made good faith efforts to cooperate with the insurer when evaluating whether the insurer committed a bad faith act. The bill takes effect on July 1, 2019.

Business and Industry

https://www.flsenate.gov/Session/Bill/2019/1464