Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1064
       
       
       
       
       
       
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                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Judiciary (Ring) recommended the following:
       
    1         Senate Amendment to Amendment (142260) (with title
    2  amendment)
    3  
    4         Delete lines 38 - 66
    5  and insert:
    6         627.422 Assignment of policies.—
    7         (1) Except as provided in subsection (2), a policy may be
    8  assignable, or not assignable, as provided by its terms. Subject
    9  to its terms relating to assignability, any life or health
   10  insurance policy under the terms of which the beneficiary may be
   11  changed upon the sole request of the policyowner may be assigned
   12  either by pledge or transfer of title, by an assignment executed
   13  by the policyowner alone and delivered to the insurer,
   14  regardless of whether or not the pledgee or assignee is the
   15  insurer. Any such assignment entitles shall entitle the insurer
   16  to deal with the assignee as the owner or pledgee of the policy
   17  in accordance with the terms of the assignment, until the
   18  insurer has received at its home office written notice of
   19  termination of the assignment or pledge or written notice by or
   20  on behalf of some other person claiming some interest in the
   21  policy in conflict with the assignment.
   22         (2) A residential property insurance policy may not
   23  restrict a policyowner’s post-loss assignment of benefits and
   24  must contain a notice that includes the following statement in
   25  at least 12-point, boldfaced, uppercase type: AS THE INSURED,
   26  YOU HAVE A LEGAL CONTRACTUAL RIGHT TO ASSIGN YOUR POST-LOSS
   27  BENEFITS FOR NEEDED REPAIRS OR REPLACEMENT OF DAMAGED PROPERTY.
   28         (3) Upon an assignment of benefits, a policyowner may not
   29  be held liable for billing and payment disputes between an
   30  insurer and the assignee if the reason for the repairs or
   31  replacement of damaged property is found by the insurer or a
   32  court of competent jurisdiction to be covered under the policy.
   33  
   34  ================= T I T L E  A M E N D M E N T ================
   35  And the title is amended as follows:
   36         Delete lines 80 - 84
   37  and insert:
   38         prohibiting a residential property insurance policy
   39         from restricting a policyowner’s post-loss assignment
   40         of benefits; requiring such policy to contain a
   41         specified disclosure statement regarding the
   42         policyowner’s right to assign certain post-loss
   43         benefits; providing that a policyowner may not be held
   44         liable for certain billing and payment disputes;
   45         providing an effective date.