Bill Would Provide Florida Office of Insurance Regulation Notice of Insurance Alternates to Terminated Policyholders
Oct 8, 2009
Florida Senate Bill 352 relating to Homeowner’s Insurance/Termination/Notification was filed on October 7, 2009 by Senator Charlie Dean (R-Inverness).
Beginning on July 1, 2010, the proposal would require the Florida Office of Insurance Regulation (“OIR”) to provide Florida homeowners insurance policyholders with immediate written notice of the possibility that his or her policy may be terminated, along with potential reasons for the termination.
The notice would list available options to the policyholder in choosing a new insurance plan or provider, as well as include the names of providers or networks that have the capacity to accept new enrollees.
For those policyholders who cancel, do not renew or otherwise terminate their policy, the OIR would provide written notice of similar alternate provider options at least 60 days before the last effective date of the policy.
Written instructions on how to contact a broker, agent or counselor about selecting a new plan or making changes to an existing plan also would be provided by the OIR.
To view the bill, click here.
Should you have any questions or comments, please contact Colodny Fass.