Bill > H1555

This bill introduces several new requirements for insurers in Florida, focusing on claim denial processes and valued policy law. It mandates that surplus lines insurers comply with valued policy law for property and casualty insurance coverage. The bill creates a new requirement that claim denials must be reviewed, approved, and signed off by a "qualified human professional" (such as a supervisor, claims manager, or licensed claims adjuster), explicitly prohibiting artificial intelligence, machine learning algorithms, or automated systems from being the sole basis for claim denials. Insurers must maintain detailed records of these human reviews, including the reviewer's name, review date, and denial basis. When communicating claim denials to claimants, insurers must clearly identify the human professional who reviewed the decision and affirm that no AI or automated system was the primary basis for the denial. The bill also requires insurers to submit periodic compliance reports to the Office of Insurance Regulation, which is authorized to audit claim denials. Additionally, the legislation updates existing statutes to include surplus lines insurers in valued policy law provisions, ensuring these insurers are subject to the same requirements as other insurance providers. The new regulations will take effect on July 1, 2025, giving insurers time to adapt to the new requirements.