Died in Banking and Insurance
Summary
The bill revises Florida insurance statutes to clarify what counts as residential coverage, stop insurers from adding non‑statutory policy conditions without approval, and require clear disclosures with a 10‑day free‑cancellation window. It also sets strict notice and timeline rules for liability insurers when they reserve the right to deny coverage, and forces property insurers to pay or deny claims within 30‑60 days with written explanations and interest on late payments. The changes are meant to give consumers more transparency and faster claim resolution.
AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.
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