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Florida Lawmakers Pass Homeowners’ Rights Bill With Credit Restriction

In Florida Legislation, homeowner's insurance, Homeowners' Policy, Insurance on May 6, 2014 at 1:32

A homeowners’ rights bill with credit restrictions on insurers is on its way to Florida’s Gov. Rick Scott’s desk for approval. The bill, SB 708, unanimously passed the Florida House and would require insurers to create a “homeowner claims bill of rights” so policy holders are aware of what to expect when filling a claim. The initiative became a top priority for Florida’s Chief Financial Officer Jeff Atwater after thousands of calls were made to his office over confusion on how to file a claim.

The bill also includes a provision that prevents insurers in Florida from using credit information to deny a claim or cancel a policy that have been in effect for more than 90 days. This provision came out of a dispute between regulators and one of Florida’s largest insurance companies.

Read the Insurance Journal article. 

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