Bill > S1340

This bill: - Allows for the recovery of extracontractual and consequential damages under the common-law remedy of bad faith against insurers, and clarifies that this does not limit or prohibit such recovery. - Requires certain insurers that write homeowners' insurance in other states to also write it in Florida, or limits the number of private passenger automobile insurance policies they can write in Florida. - Prohibits insurers providing homeowners' or commercial property insurance from canceling, nonrenewing, or terminating a policy during a pending claim, except for nonpayment of premium. - Removes the burden of proof for Citizens Property Insurance Corporation policyholders to prove water damage was not caused by flooding. - Increases the surplus requirements for domestic residential property insurers. - Requires detailed reporting on closed insurance claims and certain insurer practices. - Prohibits insurers from canceling or nonrenewing policies due to a policyholder filing a claim, unless the insurer can show the insured acted negligently or intentionally. - Requires certain disclosures and limitations related to policy deductibles, inspections, and alternative dispute resolution processes. - Makes various other changes related to insurance practices and consumer protections.

https://www.flsenate.gov/Session/Bill/2023/1340