HB 1-A: Property Insurance
GENERAL BILL by Leek ; Rommel ; (CO-INTRODUCERS) Fabricio ; Plakon ; Rizo
Property Insurance; Creates Florida Optional Reinsurance Assistance program (FORA); authorizes eligible insurers to purchase reinsurance coverage under FORA; requires board to provide specified coverage layers; specifies requirements & procedures for appropriation of funds from General Revenue Fund to provide reimbursements under FORA; removes right to attorney fees for judgments or decrees against surplus lines insurers in suits arising under residential or commercial property insurance policies; revises eligibility requirements for renewing coverage with Citizens Property Insurance Corporation for personal lines residential & commercial lines residential risks; specifies burden of proof for corporation policyholders making claims for water damage; specifies conditions that must be met for property insurance policy to require mandatory binding arbitration; removes right to attorney fees payable by insurers in alternative procedure for resolution of disputed sinkhole insurance claims; prohibits policyholders from assigning post-loss insurance benefits under residential or commercial property insurance policies; provides appropriation. APPROPRIATION: $1,757,982
Last Action: 12/14/2022 House - Laid on Table; companion bill(s) passed, see SB 2-A (Ch. 2022-271)
Bill Text: PDF
• Referred to Commerce Committee
• Referred to Appropriations Committee
• Now in Commerce Committee
• Added to Commerce Committee agenda
• Added to Appropriations Committee agenda
• 1st Reading (Original Filed Version)
• Favorable by Commerce Committee
• Reported out of Commerce Committee
• Now in Appropriations Committee
• Favorable by Appropriations Committee
• Reported out of Appropriations Committee
• Bill released to House Calendar
• Added to Second Reading Calendar
• Laid on Table; companion bill(s) passed, see SB 2-A (Ch. 2022-271)
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