Florida Legislature Enacts Amendments Regarding Loss Run Statements

Florida Legislature Enacts Amendments Regarding Loss Run Statements 

The Florida Legislature has enacted Senate Bill 156, implementing amendments relating to loss run statements. The bill was signed by the Governor on June 24, 2022, and it took effect immediately upon becoming law.

A majority of the amendments within Senate Bill 156 relate to health insurance; however, the bill also specifies that:

  • Notwithstanding any other law, an insurer shall provide to an insured within 15 calendar days after an individual or entity designated by the insurer receives the insured's written request, either:
    • A loss run statement; or
    • For personal lines of insurance, information on how to obtain a loss run statement at no charge through a consumer reporting agency. However, this does not prohibit an insured from requesting a loss run statement after receiving information from a consumer reporting agency, in which case the insurer shall then provide the loss run statement within 15 calendar days after the individual or entity designated by the insurer receives the insured's subsequent written request.

Additionally, the insurer is deemed to be in compliance with this requirement if the surplus lines agent provides the loss run statement on behalf of the insurer.

 

Link to FL SB 156