2012 Florida Bad Faith Legislation
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- Published on Sunday, 26 February 2012 17:59
Companion bills have been filed in the House and Senate, HB427 and SB1224, proposing to modify F.S. 624.155 to include a cure period for third-party/common law bad faith claims. A claimant must file a CRN as a condition precedent to a third party bad faith claim, detailing the alleged bad faith, and stating what "moneys" were not timely tendered or paid. The insurer may then cure the alleged bad faith by payment of the stated amount. It would work for either insured assigned (Cunningham agreement) third party or claimant third party bad faith claims. (Will this be enacted, or enacted as written? The odds, I surmise, are long on this one.)
UPDATE - February 27, 2012
Latest activity:
HB 427:
| 01/31/2012 | House | • On Committee agenda-- Civil Justice Subcommittee, 01/31/12, 8:00 am, 404 HOB • Unfavorable by Civil Justice Subcommittee, laid on Table; YEAS 7 NAYS 8 |
SB 1224
| 01/10/2012 | Senate | • Referred to Judiciary; Banking and Insurance; Budget -SJ 98 • Introduced -SJ 98 |
It appears no Florida bad faith law changes will occur this year. After all, this is the year of PIP reform. And Florida's adoption of the Daubert evidentiary standard.
Do I need insurance on my boat or Jet Ski in Florida?
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- Published on Monday, 23 January 2012 19:25
Do I need boat, Jet Ski, or other watercraft insurance in Florida?
No, but it’s a good idea. Florida Law does not require insurance coverage for personal watercraft. However, if there is a loan on the watercraft, the lienholder may condition the loan stating that comprehensive and collision coverage is required, to protect the lienholders interest in the boat and motor. There may be a separate, additional deductible for marine electronics, as well as a larger “named storm deductible” of 5% or more of the value of the boat or watercraft. Unlike auto insurance, comprehensive and collision coverage are typically the most costly coverage for a boat or watercraft.
Read more: Do I need insurance on my boat or Jet Ski in Florida?
Should I report a not at fault accident to my insurance company? Will my premium or rates go up if report the accident to my insurance company??
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- Published on Wednesday, 11 January 2012 01:02
If you had an accident, or worse yet, your teenager had an accident, you may be concerned (after determining that all involved were not seriously injured) with how the accident might affect your insurance premiums. (Also, if you are concerned with how to handle a ticket given to you or the person driving your car, check out the short article HERE on this website.)
Pursuant to Florida Statute, Section 626.9541 of the Insurance Code, "Unfair methods of competition and unfair acts or practices defined", subsection (1)(o) "Illegal dealings in premiums and unfair or deceptive acts or practices", the following activity by an automobile insurer is illegal:
