Bills moving through both the House and Senate would ease the burden on insurers when providing notices of cancellation and non-renewal. The bills propose to change the designated person or persons an insurer is required to notify, from the “named insured” to the “first-named insured,” in transactions involving the nonrenewal, renewal, or cancellation of personal and commercial property and casualty insurance. The bills would apply to commercial and property lines (F.S. 627.4133) and to auto lines (F.S. 627.7277, F.S. 627.728, and F.S. 627.7281).
HB 1087 was approved by the House Insurance & Banking Subcommittee last week, and is scheduled next for the House Economic Affairs Committee. SB 1252 was approved by the Senate Banking & Insurance Committee on March 16 and is now before the Budget Committee.
This summary was prepared by Perry Cone and posted at www.tallyinslaw.com/
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