HB 1097- Relating to Assignment or Transfer of Property Insurance Rights
On Monday, January 25th, HB 1097, relating to Assignment or Transfer of Property Insurance Rights, by Rep. Matt Caldwell (R-Lehigh Acres) was heard in front of the House Insurance & Banking Subcommittee and unanimously passed with 12 yeas and 0 nays.

HB 1097 was replaced with a substitute version which removed the policyholder's enforcement protections and included modifications to several claims timeframes. In order to accommodate these changes, the committee had to adopt a title amendment, changing the bill title to "insurance claims." AIF’s General Counsel, Tammy Perdue, testified expressing concerns on changes to those timeframes, due to the unstudied effect on property insurance as well as multiple other lines. Many members of the committee also expressed concern about timeframes and are in support of reinstating the enforcement protection for policyholders, which would prevent the transfer of the one-way attorney fee statute. AIF will continue to work with the bill sponsor and continue to keep our members updated on any changes that may occur.

The next committee stop for HB 1097 will be in the House Regulatory Affairs Committee.

AIF supports HB 1097 because it aims to stamp out cost drivers and control attorneys’ fees for the benefit of premium payers statewide.