HB 359 – Relating to Insurance

On Thursday, February 20, HB 359 by Representative David Santiago (R-Deltona) was heard by the House Commerce Committee and was reported favorable with 20 yeas and 0 nays. AIF’s Senior Vice President of State and Federal Affairs, Brewster Bevis, stood in support of this legislation.

The bill provides needed reforms to the insurance industry by:

• Providing revised requirements for certain audits;
• Revising timeframe during which statute of limitations for certain civil remedy actions;
• Authorizing releases of trade secret information obtained by Department of Financial Services & OIR;
• Addressing various other insurance industry issues.

HB 359 will now move to the House floor.

AIF supports smart, targeted reforms that help keep the insurance markets up to date while protecting Florida policyholders.