A bill titled SB 2A (HB 1A): Property Insurance just passed in both chambers of the Florida legislature along party lines.
In summary, the bill accomplishes the following:
It stabilizes a failing marketplace for insurance.
It gets rid of 1-way attorney fees.
Subscribe to Florida Jolt Newsletter!
It gets rid of the assignment of benefits.
It encourages settlements.
It helps homeowners by reducing insurance company claim time to 60 days.
It strengthens the insurance market, so many more companies offer insurance in Florida.
It gives the Florida Office of Insurance Regulation (FLOIR) the ability to fine and discipline insurance companies for customer abuse or wrongdoing.
The bill now goes to Governor DeSantis for his signature
Great news for Floridians. Keep up the excellent work, Florida lawmakers.
Follow Florida Jolt on Twitter
