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“This is a draconian solution in search of a problem,” said Cunningham
No Mr. Cunningham what it Draconian is the law as it stands. Presently an attorney can send a 10 day demand letter for policy limits, if the insurance company doesn’t follow the letter exactly, dares to ask for a release in exchange for policy limits, or takes 10 days and 1 minute, the attorney will reject the tender go after an excess judgement, then sue the carrier for bad faith.
That coupled with the antiquated PIP law is driving up premiums and reason for the insolvency of many auto insurance companies in Florida over the years.
I’m amazed that third party bad-faith is still out there. California got rid of it years ago. Add PIP and I’d be pulling out what little hair I have left.
Enlightened jurisdictions have done away with or don’t recognize 3rd party bad faith claims, but nobody has ever accused Florida of being enlightened now have they?
Excellent decision….This should drive even more insurance companies our to Florida. This is a real victory for the citizens of Florida who pay those high insurance premiums.
Thank goodness I don’t own a house in Florida. This outstanding decision should drive more insurance carriers out of the state. Insurance companies have been tripping over each other trying to flee Florida for years. The ones that can’t flee are insolvent. This is a real victory for the citizens of Florida or at least the plaintiff lawyers.
Paul, pretty soon the only people in Florida will be Plaintiff Lawyers.
Seriously, when will our industry wake up and actually take the trial lawyers on toe to toe with money and political vigor.
These guys spend millions and millions just in Florida on elections and campaign contributions. They have their firms HIRE legislators and refer cases to them just to get their ears on the multitude of trial lawyer issues.
Just recently a Miami legislator quit his firm and opened up his own proactive with 411-pain, a lawyer referral service.
we all get disgusted by this, and by these developments, but the only company that seems to step up is State Farm while the rest of the industry just moans and complains.
Its time this industry fights back with money and loaded political guns. This is outrageous that a bill like this would be killed in a committee. Outrageous.
Mr. Cunningham defined on his website Insurance bad faith as any insurance claim that is wrongfully denied by the insurer. But he failed to mention that what the plaintiff attorneys do in Florida is to set up Insurance company so they can get the excess judgement, devil’s advocate. It is sad that Florida Voters are blind about the people they are sending to Tallahassee.