Insurance regulation bill modifies claim payment timelines, interest penalties, and insurer obligations in Florida.

The bill amends Florida insurance regulations to establish stricter timelines for insurers to pay or deny claims, enforce penalties for late payments, and clarify insurer obligations. Insurers must pay or deny claims within 90 days or face penalties, including interest and additional penalties. Insurers must also provide detailed written explanations for claim denials or partial payments. The bill also prohibits insurers from imposing unauthorized policy conditions and requires clear disclosure of non-statutory policy provisions. Effective July 1, 2026.

Insurance regulation bill modifies claim payment timelines, interest penalties, and insurer obligations in Florida.

The bill amends Florida insurance regulations to establish stricter timelines for insurers to pay or deny claims, enforce penalties for late payments, and clarify insurer obligations. Insurers must pay or deny claims within 90 days or face penalties, including interest and additional penalties. Insurers must also provide detailed written explanations for claim denials or partial payments. The bill also prohibits insurers from imposing unauthorized policy conditions and requires clear disclosure of non-statutory policy provisions. Effective July 1, 2026.