Florida Senate - 2012                                     SB 826
       
       
       
       By Senator Bennett
       
       
       
       
       21-00708-12                                            2012826__
    1                        A bill to be entitled                      
    2         An act relating to title insurance claims; creating s.
    3         627.7832, F.S.; providing that after a specified time,
    4         a title insurer must pay the claim or cover the
    5         insured’s costs until the claim is cured; providing
    6         applicability; providing an effective date.
    7  
    8  Be It Enacted by the Legislature of the State of Florida:
    9  
   10         Section 1. Section 627.7832, Florida Statutes, is created
   11  to read:
   12         627.7832 Claims payment.—A title insurer has the right to
   13  cure each claim made. However, after 90 days without a cure the
   14  insurer must tender payment of full policy limits to the insured
   15  or cover all additional costs incurred by the insured, including
   16  attorney fees and costs, until the cure is finalized. This
   17  section applies to all title claims filed on or after July 1,
   18  2012.
   19         Section 2. This act shall take effect July 1, 2012.