Florida House Insurance and Banking Subcommittee To Consider Assignment of Benefits, Workers' Compensation, Insurer Insolvency Bills
Date Published: 03-14-2017
A proposed committee substitute for HB 1421 that would limit property insurance assignment of benefits ("AOB") agreements is on the agenda for consideration by the Florida House of Representatives' Insurance and Banking Subcommittee today at 2 p.m. (ET), March 14, 2017.
HB 1421 would codify case law that states an insurance policy (limited to a residential property insurance policy) cannot prohibit the assignment of post-loss benefits. In addition, the bill defines "assignment agreement" and establishes requirements related to the execution, validity, effect and enforcement of an assignment agreement.
To read the legislative analysis of HB 1421, click here.
In today's meeting, the Subcommittee will also take up draft legislation that would reform major portions of Florida's workers' compensation law, along with HB 837, which would amend various provisions of part I of ch. 631, F.S. governing insurer rehabilitation and liquidation in Florida.
To access bill information for the insurance-related bill on today's agenda, click on the hyperlinks below:
HB 1421 relating to Property Insurance Assignment Agreements
HB 837 relating to Insurer Insolvency
PCS for HB 1107 relating to Public Records/Workers' Compensation
CS/HB 577 relating to Discount Plan Organizations
The proposed workers' compensation bill, amendments and an analysis are provided via the hyperlinks below:
Should you have any questions or comments, please contact Colodny Fass.
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