IIABL Legislative Update

Bills that IIABL Supports

HB 601 (Huval) – Clarifies statutes related to bad faith claims against insurers

Passed the House and Senate Insurance Committee

Will be heard on the Senate floor early next week

If passed out of the Senate will return to the House for concurrence vote

Be on the lookout for grass roots alerts from IIABL!

What does it do?

It DOES NOT remove the bad faith penalties

Clarifies the “satisfactory proof of loss” trigger so policy holders know what they need to do to move their claim forward

Clarifies for companies which claims are/are not bad faith to reduce unnecessary litigation

HB 183 (Firment) – Prohibits the assignment of insurance policy benefits

Passed the House and Senate Insurance Committee

Will be heard on the Senate floor this week

If passed out of the Senate will go to the governor for signature

What does it do?

It prohibits the assignment of benefits for an insurance policy

Assignment of benefits was a significant problem in Florida market

Assignment of benefits was a major problem in the Apex Roofing and McClenny Moseley & Associates scandal in Louisiana

HB 489 (Huval) – Provides relative to ratemaking systems utilized by insurers and rate service organizations

Passed the House and Senate Insurance Committee

Will be heard on the Senate floor early next week

If passed out of the Senate will return to the House for concurrence vote