Notice of Proposed Rule: Mediation Procedures for Resolution of Disputed Personal Lines Insurance Claims Arising from the 2004 and 2005 Hurricanes and Tropical Storms
Apr 30, 2008
The Florida Department of Financial Services, Division of Consumer Services has issued a Notice of Proposed RuleÂ for:
Rule Number:Rule TitleÂ 69J-2.003: Mediation Procedures for Resolution of Disputed Personal Lines Insurance Claims Arising from the 2004 and 2005 Hurricanes and Tropical Storms
The Proposed Rule defines terms used in the Rule and in Section 627.7015, F.S., and specifies the information that shall be submitted by an insured in order to initiate mediation. This amendment also makes clerical revisions to the existing Rule, and addresses other matters relating to the mediation program governed by the Rule.
Definitions of â€œclaim,â€ â€œdispute,â€ and â€œfiledâ€ are provided and procedures specified to clarify when the duty of an insurer to provide notice to an insured of the right to mediation attaches pursuant to Section 627.7015, F.S. The Rule provides that an insurer must provide notice of the right to mediate within five business days of receiving a description of a dispute involving material fact regarding an insuredâ€™s reported hurricane loss, upon remitting a claim amount less than the lowest estimate submitted by the insured, with a notice of whole or partial denial, or if the insurer has not made a decision within 60 days of being informed about the loss.
If requested within 21 days of this Notice (April 11), a hearing will be held on:
Thursday, May 8, 2008
116 Larson Building
200 East Gaines Street,
To view the Notice and full text of the Proposed Rule, click here.
Should you have any questions or comments, please do not hesitate to contact this office.
To unsubscribe from this newsletter, please send an email to email@example.com.