Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1064
       
       
       
       
       
       
                                Ì805018!Î805018                         
       
                              LEGISLATIVE ACTION                        
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       The Committee on Judiciary (Soto) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Section 627.422, Florida Statutes, is amended to
    6  read:
    7         627.422 Assignment of policies; post-loss assignment of
    8  benefits.—
    9         (1) A policy may be assignable, or not assignable, as
   10  provided by its terms. Subject to its terms relating to
   11  assignability, any life or health insurance policy under the
   12  terms of which the beneficiary may be changed upon the sole
   13  request of the policyowner may be assigned either by pledge or
   14  transfer of title, by an assignment executed by the policyowner
   15  alone and delivered to the insurer, regardless of whether or not
   16  the pledgee or assignee is the insurer. Any such assignment
   17  entitles shall entitle the insurer to deal with the assignee as
   18  the owner or pledgee of the policy in accordance with the terms
   19  of the assignment, until the insurer has received at its home
   20  office written notice of termination of the assignment or pledge
   21  or written notice by or on behalf of some other person claiming
   22  some interest in the policy in conflict with the assignment.
   23         (2)(a) A personal lines residential property insurance or
   24  commercial residential property insurance policy may not
   25  prohibit the post-loss assignment of benefits; however, a
   26  policyowner is limited to assigning only the benefits of such
   27  policy which are applicable to the work performed or to be
   28  performed by the assignee as a result of the loss.
   29         (b) Before an assignment may be made under paragraph (a),
   30  an assignee shall provide the policyowner with a written listing
   31  of the work to be performed. If it is later determined that
   32  additional work is required as a result of the loss, the
   33  policyowner must receive and approve a written listing of the
   34  additional work before the additional work is performed. The
   35  assignee must provide the policyowner with legible copies of all
   36  estimates and invoices sent by the assignee to the insurer.
   37         Section 2. This act shall take effect July 1, 2015.
   38  
   39  ================= T I T L E  A M E N D M E N T ================
   40  And the title is amended as follows:
   41         Delete everything before the enacting clause
   42  and insert:
   43                        A bill to be entitled                      
   44         An act relating to assignment of post-loss insurance
   45         policy benefits; amending s. 627.422, F.S.; providing
   46         that certain residential property insurance policies
   47         may not prohibit the post-loss assignment of benefits;
   48         limiting policyowners of such policies to assigning
   49         only the policy benefits that are applicable to the
   50         work performed or to be performed by the assignee as a
   51         result of the loss; requiring an assignee to provide
   52         the policyholder with specified listings of work and
   53         legible copies of all estimates and invoices sent by
   54         the assignee to the insurer; providing an effective
   55         date.