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Property Insurance Proposed Legislation

Eversheds Sutherland (US) LLP

Colorado Division of Insurance adopts final rule on use of big data and predictive models

The Colorado Division of Insurance (CDI) adopted a new regulation on September 21, 2023 (Final Regulation) establishing requirements governing the use of external consumer data and information sources (ECDIS), as well as...more

Moore & Van Allen PLLC

Pandemic Risk Insurance Act of 2020 Introduced in Congress – A Federal Backstop for Business Interruption and Event Cancellation...

Moore & Van Allen PLLC on

After months of discussion and drafting, H.R.7011, the Pandemic Risk Insurance Act of 2020 (PRIA) was introduced by Representative Carolyn Maloney and twenty co-sponsors on May 26, 2020. If passed as currently drafted, the...more

Rivkin Radler LLP

State Governments Look to Property Insurers for Small Business Relief

Rivkin Radler LLP on

The economic realities brought on by the COVID-19 pandemic have forced our government at both the federal and state level to take unprecedented action. And, despite congressional passage of the Coronavirus Aid, Relief, and...more

Zelle  LLP

State Bill for Coronavirus BI Coverage Recalls Prior Sandy Efforts

Zelle LLP on

The coronavirus (COVID-19) public health emergency will certainly produce significant financial losses across the economy as businesses shut their doors for prolonged periods to avoid infections and exposures. In response,...more

Cadwalader, Wickersham & Taft LLP

Cat Bond Update: Florida Assignment of Benefits

On April 24, 2019, the Florida Legislature passed a bill (the “Act”) to reform the requirements for the assignment of benefits of claims for residential and commercial property insurance. The Act is expected to become law....more

Carlton Fields

Florida Legislature Passes Sweeping Assignment of Benefits Legislation

Carlton Fields on

Significant changes appear to be in the pipeline for Florida property insurers after the Florida legislature passed sweeping assignment of benefits (AOB) reform legislation last week....more

Carlton Fields

In California, Proposed Legislation To Increase Insureds’ Recoveries From Their Insurance Policies

Carlton Fields on

After devastating wildfires, California legislators proposed greater wildfire insurance protection, drafting a set of bills. The most important proposed changes are as follows...more

Butler Weihmuller Katz Craig LLP

AOB Reform Bill Passes Florida House, Senate Future Uncertain

On January 12, 2018, the Florida House of Representatives passed a bill (HB 7015) that would dramatically affect the way contractors and their lawyers use assignments of benefits (“AOBs”) in first-party property insurance...more

Carlton Fields

Florida Court Rejects Property Insurer’s Effort To Limit Assignment Of Benefits

Carlton Fields on

An assignment of benefits (AOB) is a legal tool that allows a third party to be paid for services performed for an insured property owner who would normally be reimbursed by the insurance company directly after making a...more

Carlton Fields

Assignment of Benefits Legislation in Florida

Carlton Fields on

The practice known as the Assignment of Benefits (AOB) is a big problem for Florida property insurers. AOBs have been driving up the cost of property insurance claims in the state for several years....more

Carlton Fields

In Florida, House Bill 805 Will Likely Allow Insurance Policy Transfers

Carlton Fields on

The Florida Legislature passed House Bill 805, regarding insurance policy transfers. If, as anticipated, the governor signs the bill into law, it will allow insurance companies writing personal lines residential and...more

Locke Lord LLP

New Federal Bill Would Allow Risk Retention Groups to Cover Property

Locke Lord LLP on

A bill recently introduced in the House seeks to expand the authority of Risk Retention Groups (“RRGs”) to write property, and not just commercial casualty, coverage. HR 3794, which was introduced on a bipartisan basis, would...more

Hinshaw & Culbertson LLP

California Insurance-Related Bills Meet Deadline for Passage in 2015

The deadline for Assembly bills to be passed by the California Assembly and for Senate bills to be passed by the California Senate was June 5. Bills that met the deadline are eligible for enactment this year. Bills that...more

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