FIC: Condo Property Insurance Subrogation Bill Clears Last House Committee

By:  Katrina Callaway, FIC General Counsel HB 623, is a comprehensive condo association bill that contains one insurance provision.  That provision prohibits a condo unit owner’s property policy from allowing the unit owner to subrogate against the condo association if the association’s policy does not allow the association to subrogate against the unit owner.  …

Florida Office of Insurance Regulation Releases Notice for Assignment of Benefits (AOB) Data Call

The Florida Office of Insurance Regulation (OIR) has issued the following notice regarding the Assignment of Benefits data call.   ATTENTION INSURERS: Assignment of Benefits (AOB) Data Call Due March 31, 2020 The Florida Office of Insurance Regulation (OIR) is conducting a data call to collect information related to Assignment of Benefits (AOB), pursuant to…

FIC: FIGA Condo Association Coverage Increase Clears Another Senate Committee

By:  Katrina Callaway, FIC General Counsel SB 898 increases the FIGA coverage limit and the FIGA emergency assessment maximum for condominium association and homeowners’ association FIGA claims.  The bill passed its second Senate committee on February 17, 2020 without amendment and has one committee left. Upon insurer insolvency, FIGA is currently obligated to pay an…

FIC: FIGA Condo Association Coverage Increase Clears Another House Committee

By:  Katrina Callaway, FIC General Counsel A bill increasing the FIGA coverage limit and the FIGA emergency assessment maximum for condominium association and homeowners’ association FIGA claims passed its second House committee on February 11, 2020 without amendment.  The bill has one committee left. Upon insurer insolvency, FIGA is currently obligated to pay an insured…