Florida Senate - 2015 SB 1064 By Senator Hukill 8-00788-15 20151064__ 1 A bill to be entitled 2 An act relating to the assignment of post-loss 3 insurance policy benefits; amending s. 627.422, F.S.; 4 providing that the post-loss benefits under a policy 5 may be assignable or not assignable as provided by the 6 terms of the policy; providing an effective date. 7 8 Be It Enacted by the Legislature of the State of Florida: 9 10 Section 1. Section 627.422, Florida Statutes, is amended to 11 read: 12 627.422 Assignment of policies.—A policy or the post-loss 13 benefits provided under the policy may be assignable, or not 14 assignable, as provided by theitsterms of the policy. Subject 15 to the policy’sitsterms relating to assignability, any life or 16 health insurance policy under the terms of which the beneficiary 17 may be changed upon the sole request of the policyowner may be 18 assigned either by pledge or transfer of title, by an assignment 19 executed by the policyowner alone and delivered to the insurer, 20 whether or not the pledgee or assignee is the insurer. Any such 21 assignment entitlesshall entitlethe insurer to deal with the 22 assignee as the owner or pledgee of the policy in accordance 23 with the terms of the assignment, until the insurer has received 24 at its home office written notice of termination of the 25 assignment or pledge or written notice by or on behalf of some 26 other person claiming some interest in the policy in conflict 27 with the assignment. 28 Section 2. This act shall take effect July 1, 2015.