Florida Senate - 2015 COMMITTEE AMENDMENT Bill No. CS for SB 1064 Ì805018!Î805018 LEGISLATIVE ACTION Senate . House . . . . . ————————————————————————————————————————————————————————————————— ————————————————————————————————————————————————————————————————— The Committee on Judiciary (Soto) recommended the following: 1 Senate Amendment (with title amendment) 2 3 Delete everything after the enacting clause 4 and insert: 5 Section 1. Section 627.422, Florida Statutes, is amended to 6 read: 7 627.422 Assignment of policies; post-loss assignment of 8 benefits.— 9 (1) A policy may be assignable, or not assignable, as 10 provided by its terms. Subject to its terms relating to 11 assignability, any life or health insurance policy under the 12 terms of which the beneficiary may be changed upon the sole 13 request of the policyowner may be assigned either by pledge or 14 transfer of title, by an assignment executed by the policyowner 15 alone and delivered to the insurer, regardless of whetheror not16 the pledgee or assignee is the insurer. Any such assignment 17 entitlesshall entitlethe insurer to deal with the assignee as 18 the owner or pledgee of the policy in accordance with the terms 19 of the assignment, until the insurer has received at its home 20 office written notice of termination of the assignment or pledge 21 or written notice by or on behalf of some other person claiming 22 some interest in the policy in conflict with the assignment. 23 (2)(a) A personal lines residential property insurance or 24 commercial residential property insurance policy may not 25 prohibit the post-loss assignment of benefits; however, a 26 policyowner is limited to assigning only the benefits of such 27 policy which are applicable to the work performed or to be 28 performed by the assignee as a result of the loss. 29 (b) Before an assignment may be made under paragraph (a), 30 an assignee shall provide the policyowner with a written listing 31 of the work to be performed. If it is later determined that 32 additional work is required as a result of the loss, the 33 policyowner must receive and approve a written listing of the 34 additional work before the additional work is performed. The 35 assignee must provide the policyowner with legible copies of all 36 estimates and invoices sent by the assignee to the insurer. 37 Section 2. This act shall take effect July 1, 2015. 38 39 ================= T I T L E A M E N D M E N T ================ 40 And the title is amended as follows: 41 Delete everything before the enacting clause 42 and insert: 43 A bill to be entitled 44 An act relating to assignment of post-loss insurance 45 policy benefits; amending s. 627.422, F.S.; providing 46 that certain residential property insurance policies 47 may not prohibit the post-loss assignment of benefits; 48 limiting policyowners of such policies to assigning 49 only the policy benefits that are applicable to the 50 work performed or to be performed by the assignee as a 51 result of the loss; requiring an assignee to provide 52 the policyholder with specified listings of work and 53 legible copies of all estimates and invoices sent by 54 the assignee to the insurer; providing an effective 55 date.