A recently enacted Florida statute was confusingly enacted with two different effective dates, one effective on January 1, 2023 and the other effective on March 1, 2023. This confusion is likely to persist until the Florida Legislature or a Florida court of competent jurisdiction clears up the matter. Until such time, Fla. Stat. § 627.70131(7)(a) will confusingly provide in pertinent part:
(7)(a) Within [60 days - eff. January 1, 2023, or 90 days - eff. March 1, 2023] after an insurer receives notice of an initial, reopened, or supplemental property insurance claim from a policyholder, the insurer shall pay or deny such claim or a portion of the claim unless the failure to pay is caused by factors beyond the control of the insurer which reasonably prevent such payment.
The effects of Insurer's Payment of Undisputed Covered Amounts--Part Payment of Property Insurance Claims in first-party insurance bad faith cases, including cases dealing with property insurance claims, are discussed in 2 DENNIS J. WALL, LITIGATION AND PREVENTION OF INSURER BAD FAITH § 9:27 (West Publishing Co. 3d Edition, 2023 Supplements in process).
Please read the disclaimer. This blog article ©2023 Dennis J. Wall. All rights reserved.
Comments