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After passing probably the most favorable insurance coverage firm laws—which led former President Donald Trump to name out his fellow Republican leaders for promoting out the insurance coverage business—the Florida Senate this afternoon crafted some new proposed insurance coverage legal guidelines aimed toward serving to Floridians.
I’ve learn the invoice in a short time, and it has favorable language. The invoice’s enforcement just isn’t left within the fingers of the policyholder however is as much as the federal government regulators. Fines are elevated and addresses various wrongful practices that had been mentioned within the Washington Post article I famous in Insurance Company Corrupt Claims Culture Exposed by Washington Post.
The invoice makes the follow of area adjuster estimates being modified with out clarification unlawful and topic to penalties. The desk adjuster must clarify the explanations for the modifications and who made the modifications. This is an efficient change within the legislation. Modifications to estimates will usually be made in good religion to replicate better accuracy. This legislation helps that good religion to happen by requiring a clear clarification to the policyholder.
So, when does this proposed invoice have a public listening to? Wednesday morning in Tallahassee. Politics and law-making in Florida is like nowhere else. Making legislation on the final minute with little likelihood for reflection is definitely lower than superb.
For readers, and particularly these in Florida, I’m posting this weblog after ready and expecting the invoice all day. I’ll have extra to say after I learn it in better element.
Thought For The Day
The poll is stronger than the bullet.
—Abraham Lincoln