Florida Senate - 2018                        COMMITTEE AMENDMENT
       Bill No. SB 1168
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       The Committee on Banking and Insurance (Steube) recommended the
    1         Senate Amendment (with title amendment)
    3         Delete lines 150 - 167
    4  and insert:
    5         (3)Notwithstanding any other law, the acceptance by a
    6  person of any assignment agreement constitutes a waiver by the
    7  assignee or transferee, and any subcontractor of the assignee or
    8  transferee, of any and all claims against all named insureds for
    9  payment arising from the specified loss, except that all named
   10  insureds remain responsible for the payment of any deductible
   11  amount provided for by the terms of the insurance policy and for
   12  the cost of any betterment ordered by all named insureds. This
   13  waiver remains in effect notwithstanding any subsequent
   14  determination that the assignment agreement is invalid or
   15  notwithstanding the rescission of the assignment agreement by
   16  all named insureds, except that the assignee is entitled to
   17  payment for the reasonable cost of any contracted work performed
   18  before the assignor rescinded the assignment agreement.
   20  ================= T I T L E  A M E N D M E N T ================
   21  And the title is amended as follows:
   22         Delete lines 29 - 35
   23  and insert:
   24         certain assertions by the insurer; providing that a
   25         person’s acceptance of an assignment agreement
   26         constitutes a waiver by the assignee or transferee, or
   27         any subcontractor of the assignee or transferee, of
   28         certain claims against named insureds, except under
   29         specified circumstances; providing construction
   30         relating to such waiver; requiring an