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An Act Relating to Insurance: Notice of Policy Change


   

CS/CS/HB 465

Notice of Policy Change

p. 6; §627.43141

Requires that a property and casualty insurer summarize policy changes on the required Notice of Change in Policy Terms that is issued at policy renewal, rather than merely issuing a notice (i.e., requires content more informative than merely the phrase “Notice of Change in Policy Terms”).

FAIA drafted and advocated for this statutory change after it became apparent that some companies, while complying with a strict reading of the law, were not providing consumers and agents a summary of the actual changes from one policy period to the next.

Effective date: March 30, 2018
Chapter No. 2018-131, LOF

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