After passing the most favorable insurance company legislation — prompting former President Donald Trump to call out his Republican leaders for selling out the insurance industry — the Florida Senate this afternoon drafted some new proposed insurance laws aimed at helping Floridians.
I have read the bill very quickly, and it has favorable language. The enforcement of the bill is not left in the hands of the policyholder, but is up to the state regulatory authorities. The fines are increased and address a number of incorrect practices that were discussed in Washington Post article I noted in Insurance company̵7;s corrupt claims culture exposed by Washington Post.
The bill makes the practice of changing field adjusters’ estimates without explanation illegal and subject to penalties. The desktop adjuster must explain the reasons for the changes and who made the changes. This is a good change in the law. Changes to estimates will normally be made in good faith to reflect greater accuracy. This law helps the good faith emerge by requiring a transparent explanation to the policyholder.
So, when does this proposed bill have a public hearing? Wednesday morning in Tallahassee. Politics and legislation in Florida is like no other. Making laws at the last minute with little chance for reflection is certainly less than ideal.
For readers, and especially those in Florida, I am posting this blog after waiting and watching the bill all day. I’ll have more to say once I’ve read it in more detail.
The ballot is stronger than the bullet.