summary
Introduced
02/26/2025
02/26/2025
In Committee
03/06/2025
03/06/2025
Crossed Over
Passed
Dead
Introduced Session
2025 Regular Session
Bill Summary
An act relating to consumer protection in insurance matters; amending s. 626.854, F.S.; requiring public adjusters, public adjuster apprentices, and public adjusting firms to provide a specified response within a specified timeframe after receiving a request for claim status from a claimant, an insured, or a designated representative; requiring such adjusters, apprentices, and firms to retain a copy of such response; creating s. 627.4815, F.S.; defining terms; requiring that universal life insurance policies include a provision requiring a certain annual report; specifying requirements for the annual report; providing applicability; amending s. 627.6515, F.S.; revising applicability relating to group health insurance policies; creating s. 627.7293, F.S.; requiring certain automobile insurers, under certain circumstances, to provide a specified statement in a certain manner; requiring the automobile insurer to obtain express consent before submitting specified claims; providing applicability; creating s. 627.7431, F.S.; defining terms; requiring insurers to pay or deny certain claims within a specified timeframe; providing an exception; requiring insurers to provide certain explanations to policyholders under certain circumstances; specifying that certain payments bear specified interest; specifying when the interest begins to accrue; providing construction; requiring the insured to select the manner of receiving prejudgment interest under certain circumstances; specifying that the failure to comply with certain provisions does not form the basis of a private cause of action; providing applicability; specifying that certain requirements are tolled under certain circumstances; providing an effective date.
AI Summary
This bill introduces several key consumer protections in insurance matters, focusing on transparency, reporting, and claims processing. For public adjusters, the bill requires them to respond to claim status requests within 14 days and retain a copy of their response. For universal life insurance policies, insurers must now provide an annual report to policyholders at no cost, which includes detailed information about policy value, death benefits, cash surrender value, and potential future coverage risks. The bill also introduces new requirements for automobile insurers regarding towing and labor coverage, mandating that insurers disclose to claimants that filing such claims will be part of their claims history and obtain express consent before submitting the claim. Additionally, the bill establishes specific timelines and procedures for insurers to pay or deny first-party claims for private passenger motor vehicles, requiring payment or denial within 60 days and providing a written explanation for any partial or full claim denial. If payments are delayed beyond the specified timeframe, insurers must pay interest at a defined rate. The bill aims to enhance consumer protection by increasing transparency, requiring more comprehensive reporting, and establishing clearer guidelines for insurance claim processing.
Sponsors (1)
Last Action
Indefinitely postponed and withdrawn from consideration (on 05/03/2025)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.flsenate.gov/Session/Bill/2025/1428 |
| Analysis - Banking and Insurance (Pre-Meeting) | https://www.flsenate.gov/Session/Bill/2025/1428/Analyses/2025s01428.pre.bi.PDF |
| BillText | https://www.flsenate.gov/Session/Bill/2025/1428/BillText/Filed/HTML |
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