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Bill > S0122

FL S0122

FL S0122
Insurance Assignment Agreements

summary

Introduced
12/03/2018
In Committee
01/10/2019
Crossed Over
Passed
Dead
05/04/2019

Introduced Session

Potential new amendment
2019 Regular Session

Bill Summary

Providing requirements and limitations for property insurance assignment agreements; providing that an acceptance by an assignee of an assignment agreement is a waiver by the assignee and its subcontractors of certain claims against an insured; authorizing insurers to make available property insurance policies restricting the assignment of post-loss benefits under certain conditions; providing that residential or commercial property insurance policies may not prohibit the assignment of post-lost benefits, etc.

AI Summary

This bill provides requirements and limitations for property insurance assignment agreements, which are agreements where post-loss benefits under a residential or commercial property insurance policy are assigned or transferred to a third party. The bill requires assignment agreements to be in writing, include specific provisions, and prohibit certain fees or penalties. It also authorizes insurers to offer policies restricting the assignment of post-loss benefits, provided certain conditions are met. The bill amends existing law to clarify that property insurance policies cannot prohibit the assignment of post-loss benefits unless the policy complies with the new requirements. Additionally, the bill requires Citizens Property Insurance Corporation to include an exhibit demonstrating the impact of the act on DP-3 and HO-3 policy rates.

Committee Categories

Business and Industry, Justice

Sponsors (4)

Other Sponsors (3)

Banking and Insurance (Senate), Judiciary (Senate), Rules (Senate)

Last Action

Laid on Table, companion bill(s) passed, see CS/CS/HB 7065 (Ch. 2019-57) (on 04/23/2019)
(6 Companion Bills)

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Document Type Source Location
State Bill Page https://www.flsenate.gov/Session/Bill/2019/122
Senate Committee Amendment #923034 https://www.flsenate.gov/
Senate Floor Amendment #238720 https://www.flsenate.gov/Session/Bill/2019/122/Amendment/238720/HTML
Senate Floor Amendment #128452 https://www.flsenate.gov/Session/Bill/2019/122/Amendment/128452/HTML
BillText https://www.flsenate.gov/Session/Bill/2019/122/BillText/c3/HTML
Bill https://www.flsenate.gov/Session/Bill/2019/122/BillText/c3/PDF
BillText https://www.flsenate.gov/Session/Bill/2019/122/BillText/c2/HTML
Bill https://www.flsenate.gov/Session/Bill/2019/122/BillText/c2/PDF
BillText https://www.flsenate.gov/Session/Bill/2019/122/BillText/c1/HTML
Bill https://www.flsenate.gov/Session/Bill/2019/122/BillText/c1/PDF
Senate Committee Amendment #932552 to Amendment (306982) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/932552/HTML
Senate Committee Substitue Amendment #892198 Amendment (Delete All) (306982) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/892198/HTML
Senate Committee Amendment #336048 to Amendment (306982) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/336048/HTML
Senate Committee Amendment #306982 https://www.flsenate.gov/Session/Bill/2019/122/Amendment/306982/HTML
Senate Committee Substitue Amendment #711030 Amendment (Delete All) (923034) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/711030/HTML
Senate Committee Amendment #724484 https://www.flsenate.gov/Session/Bill/2019/122/Amendment/724484/HTML
Senate Committee Amendment #487740 https://www.flsenate.gov/Session/Bill/2019/122/Amendment/487740/HTML
Senate Committee Substitue Amendment #545092 Amendment (Delete All) (724484) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/545092/HTML
Senate Committee Substitue Amendment #469254 Amendment (Delete All) (923034) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/469254/HTML
Senate Committee Substitue Amendment #672446 Amendment (Delete All) (487740) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/672446/HTML
Senate Committee Substitue Amendment #355342 Amendment (Delete All) (923034) https://www.flsenate.gov/Session/Bill/2019/122/Amendment/355342/HTML
Senate Committee Amendment #923034 https://www.flsenate.gov/Session/Bill/2019/122/Amendment/923034/HTML
BillText https://www.flsenate.gov/Session/Bill/2019/122/BillText/Filed/HTML
Bill https://www.flsenate.gov/Session/Bill/2019/122/BillText/Filed/PDF
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