This bill aims to enhance consumer protection in the insurance sector by amending various sections of Florida Statutes. It requires public adjusters, apprentices, and firms to respond to claim status requests from claimants or their representatives within 14 days and mandates the retention of a copy of the response. Additionally, it introduces a requirement for universal life insurance policies to provide an annual report detailing the policy's financial metrics and projections. The bill also revises the applicability of group health insurance policies and sets new requirements for automobile insurers regarding towing and labor coverage, including the necessity of obtaining express consent before submitting claims. Insurers are mandated to pay or deny certain claims within 60 days of receiving notice, with written explanations required for any denials, and late payments will accrue interest.

Moreover, the bill introduces new categories of insurance coverage, such as personal injury protection and property damage liability, while establishing conditions under which the time limits for certain actions are paused, or "tolled." These conditions include the duration of mediation or alternative dispute resolution proceedings related to insurance claims and the failure of a policyholder or their representative to provide requested claims information within a specified timeframe. The tolling period concludes when mediation or alternative dispute resolution ends or when the insurer receives the requested information, with the stipulation that tolling provisions only apply to requests made by the insurer at least 15 days before a decision on the claim is required. The act is set to take effect on July 1, 2025.

Statutes affected:
S 1428 Filed: 627.6515