Topic: Florida Developments

Florida No Fault Coverage – Insurers May Reimburse Medical Providers at the Providers’ PPO Contract Rates

Florida’s personal injury protection (“PIP”) statute, Florida Statute § 627.736, requires Florida insureds to maintain at least $10,000 in “no fault” coverage for automobile accidents and compels insurers to pay 80% of all reasonable, related, and necessary medical expenses.  However, subsection (10) of the PIP statute creates an alternative to standard PIP coverage options. 

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Florida Legislature Creates Task Force on Citizens Property Insurance Claims Handling

The Florida Legislature created the Task Force on Citizens Property Insurance Claims Handling and Resolution during a special session in 2007.  Citizens Property Insurance Company, Florida’s state sponsored insurer, experienced significant difficulties in handling the deluge of claims from the 2004 and 2005 hurricane seasons. 

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The Florida Hurricane Catastrophe Fund

In 1992, in the wake of Hurricane Andrew, the Florida Legislature enacted F.S. § 215.555, which created the Florida Hurricane Catastrophe Fund (the “Fund”).  The Fund is a trust fund, established to reimburse insurers, who write covered policies under F.S. § 215.555(2)(c), for a portion of their catastrophic hurricane related losses. 

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Florida’s Valued Policy Law – When Determining Whether Building is “Total Loss,” Court May Consider Whether Cost of Repair Exceeds Value

Florida’s First District Court of Appeal recently decided that, when determining whether the structure is a “total loss” under Florida’s former Valued Policy Law (“VPL”), a court could consider whether the cost of repairing the building would exceed its value. 

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