Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1064
       
       
       
       
       
       
                                Ì449256AÎ449256                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Judiciary (Ring) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 76 - 114
    4  and insert:
    5         (1) Except as provided in subsection (2), a policy may be
    6  assignable, or not assignable, as provided by its terms. Subject
    7  to its terms relating to assignability, any life or health
    8  insurance policy under the terms of which the beneficiary may be
    9  changed upon the sole request of the policyowner may be assigned
   10  either by pledge or transfer of title, by an assignment executed
   11  by the policyowner alone and delivered to the insurer,
   12  regardless of whether or not the pledgee or assignee is the
   13  insurer. Any such assignment entitles shall entitle the insurer
   14  to deal with the assignee as the owner or pledgee of the policy
   15  in accordance with the terms of the assignment, until the
   16  insurer has received at its home office written notice of
   17  termination of the assignment or pledge or written notice by or
   18  on behalf of some other person claiming some interest in the
   19  policy in conflict with the assignment.
   20         (2) A residential property insurance policy may not
   21  restrict a policyowner’s post-loss assignment of benefits and
   22  must contain a notice that includes the following statement in
   23  at least 12-point, boldfaced, uppercase type: AS THE INSURED,
   24  YOU HAVE A LEGAL CONTRACTUAL RIGHT TO ASSIGN YOUR POST-LOSS
   25  BENEFITS FOR NEEDED REPAIRS OR REPLACEMENT OF DAMAGED PROPERTY.
   26         (3) Upon an assignment of benefits, a policyowner may not
   27  be held liable for billing and payment disputes between an
   28  insurer and the assignee if the reason for the repairs or
   29  replacement of damaged property is found by the insurer or a
   30  court of competent jurisdiction to be covered under the policy.
   31  
   32  ================= T I T L E  A M E N D M E N T ================
   33  And the title is amended as follows:
   34         Delete lines 11 - 15
   35  and insert:
   36         627.422, F.S.; prohibiting a residential property
   37         insurance policy from restricting a policyowner’s
   38         post-loss assignment of benefits; requiring such
   39         policy to contain a specified disclosure regarding the
   40         policyowner’s right to assign certain post-loss
   41         benefits; providing that a policyowner may not be held
   42         liable for certain billing and payment disputes;
   43         providing