HB 451: Court Judgment Interest Rates and Insurance Reports and Practices
GENERAL BILL by Andrade
Court Judgment Interest Rates and Insurance Reports and Practices; Revises calculation that CFO performs to set rate of interest payable on judgments or decrees; requires OIR to create specified reports on insurance-related entities & compensation of executive officers for insurers, licensees, & registrants; revises factors office must consider in determining whether insurance rate is excessive, inadequate, or unfairly discriminatory; requires property insurers to send policyholders written estimate of amount of loss; specifies certain requirements for insurers when creating & sending such estimates; prohibits insureds & insurers from waiving such requirements; revises manner in which property insurer must respond to notice to initiate litigation; requires claimant & property insurer to participate in mandatory mediation; requires court to determine attorney fees in specified manner for cases arising from property insurance dispute; requires property insurers to disclose to policyholders dollar amount of credit or premium discount for mandatory binding arbitration endorsement.
Last Action: 3/4/2025 House - 1st Reading (Original Filed Version)
Bill Text: PDF
-
Bill History
Date Chamber Action 2/6/2025 House • Filed
2/19/2025 House • Referred to Insurance & Banking Subcommittee
• Referred to Civil Justice & Claims Subcommittee
• Referred to Commerce Committee
• Now in Insurance & Banking Subcommittee
3/4/2025 House • 1st Reading (Original Filed Version)
-
HB 451, Original Filed Version (Current Bill Version) Posted 2/6/2025 at 4:15 PM
Bill Text: PDF Analyses: None Related Bills (3)
Bill Number Subject Filed By Relationship Last Action and Location Track Bills S 554 Insurance Practices Gaetz Similar Last Action: 3/4/2025 S Introduced 
H 459 Resolution of Disputed Property Insurance Claims Spencer Compare Last Action: 3/4/2025 H 1st Reading (Original Filed Version)
S 224 Resolution of Disputed Property Insurance Claims Polsky Compare Last Action: 3/4/2025 S Introduced
Citations - Statutes (10)
Citation Catchline Location in Bill Location In Bill Help 55.03 Judgments; rate of interest, generally. Page 3 (pdf) 624.315 Annual reports; quarterly reports. Page 4 (pdf) 627.062 Rate standards. Page 6 (pdf) 627.151 Basis of approval or disapproval of workers’ compensation or employer’s liability insurance filing; scope of disapproval power. Page 15 (pdf) 627.70131 Insurer’s duty to acknowledge communications regarding claims; investigation. Page 8 (pdf) 627.7015 Alternative procedure for resolution of disputed property insurance claims. Page 10 (pdf) 627.70152 Suits arising under a property insurance policy. Page 11 (pdf) 627.70154 Mandatory binding arbitration. Page 14 (pdf) 627.715 Flood insurance. Page 15 (pdf) 627.7151 Limited sinkhole coverage insurance. Page 17 (pdf)