The bill aims to revise the attorney fee awards in insurance actions by repealing section 86.121 of the Florida Statutes, which pertains to attorney fees in declaratory relief actions regarding insurance coverage. It amends section 624.1552 to clarify the applicability of offer of judgment provisions in civil actions involving insurance contracts, specifically excluding those actions governed by the newly created sections 626.9375 and 627.4275. These new sections mandate the award of reasonable attorney fees to the prevailing party in civil actions against surplus lines insurers and other insurers, respectively, and establish guidelines for determining the prevailing party based on the outcome of the judgment compared to settlement offers.

Additionally, the bill includes various amendments to existing statutes to incorporate the new attorney fee provisions, ensuring they apply to specific types of insurers and insurance policies. It specifies that a settlement offer not kept open for at least five business days is not considered a good faith offer and outlines the circumstances under which the new attorney fee provisions apply. The act is designed to take effect upon becoming law and applies to insurance policies or contracts issued on or after the effective date, without impairing rights under existing policies.

Statutes affected:
H 1551 Filed: 86.121, 624.1552, 624.123, 627.062, 627.736, 627.756, 628.6016