Insurers in Florida could not use credit information to deny a claim or cancel a policy under a bill now headed to the desk of Florida Gov. Rick Scott.
The Florida House voted unanimously for a bill that would also create a “homeowner claims bill of rights” that requires insurers to spell out to homeowners what they can expect when they file a claim.
The legislation (SB 708) is a top priority for Florida’s Chief Financial Officer Jeff Atwater. He said he pushed the bill after getting thousands of calls from consumers confused about how to file a claim.
The credit provision would apply to any policy that has been in effect for more than 90 days. This provision came out of a dispute between regulators and one of Florida’s largest insurance companies.
Related Articles:
- Report Casts Light on High Cost of Homeowners Insurance in Florida
- Reinsurance Costs Helping to Lower Florida Homeowners Rates: OIR Report
Topics Legislation Florida Homeowners
Was this article valuable?
Here are more articles you may enjoy.
CFC Owners Said to Tap Banks for Sale, IPO of £5 Billion Insurer 
World’s Growing Civil Unrest Has an Insurance Sting 
US Supreme Court Rejects Trump’s Global Tariffs 
Viewpoint: Runoff Specialists Have Evolved Into Key Strategic Partners for Insurers 
