On Sep. 30, FLA INS issued EO on policyholder insurance protections.
FLA INS issued Executive Order 400385-24 to assist policyholders affected by Helene.
EO applies to all insurers in Florida, HMOs, premium finance companies, surplus lines insurers, other entities regulated by FLA INS, and to policyholders in listed counties.
Alachua, Charlotte, Citrus, Columbia, Dixie, Gadsden, Gilchrist, Gulf, Franklin county.
Hamilton, and Hernando, Hillsborough, Jefferson, Lafayette, Lee, Leon, Levy, Liberty
Madison, Manatee, Pasco, Pinellas, Sarasota, Suwannee, Taylor, and Wakulla counties.
Policyholder Protections
Extends grace periods for any policy, provision, notice, correspondence, or law that imposes a time limit upon an insured to perform any act until Nov. 26, 2024.
Executive order prohibits the cancellation or nonrenewal of a policy in an impacted area, except at the written request of the policyholder, until Nov. 26, 2024.
Prohibits cancellation/nonrenewal of a residential property insurance policy covering a property repaired due hurricane for period of 90 days after it has been repaired.
Additionally, order directs insurers, surplus lines and other regulated entities to implement processes and procedures to facilitate the efficient payment of claims.
Effectiveness
Executive Order 400385-24 issued on Sep. 29, 2024.
Oct. 2, 2024 FLA INS State Register
On Oct. 2, 2024, FLA INS published extension of grace periods in the State register.
Oct. 16, 2024 FLA INS Amended, New EO
On Oct. 16, 2024, FLA INS reported governor amended EO 400385-24, extending grace periods, and prohibiting cancellations or nonrenewals, until Dec. 10, 2024.
Also issued EO 400386-24 providing protections for victims of Hurricane Milton.
Extends grace period, cancellation/nonrenewals re Huricane Milton to Dec. 10, 2024.
Both EOs urge insurers to implement processes to facilitate efficient claim payment.
Oct. 18, 2024 FLA INS State Register
On Oct. 18, 2024, FLA INS published amended EO 400385-24 in the State register.
Regulators
FLA INS
Entity Types
Ins
Reference
FLA SR Vol. 50, Is. 205, pg 3884, 10/18/2024; PR, EO 400385-24, 400386-24, 10/16/2024; FLA SR Vol. 50, Is. 193, Nt 28821918, 10/2/2024; PR, 9/30/2024; EO 400385-24, 9/29/2024;
