Insurance proposals could bring big changes to homeowners - Jacksonville Business Journal

Dec 12, 2022

The bills, which each top 100 pages, appeared nearly identical, indicating that House and Senate Republican leaders have agreed on the major details. — The bills would largely eliminate a controversial practice known as “assignment of benefits” for property-insurance claims. In assignment of benefits, policyholders sign over claims to contractors, who ultimately seek payment from insurers. Insurance companies contend that the practice increases lawsuits.

— The bills would make a series of changes related to claims, such as shortening a time frame from 90 days to 60 days for insurers to deny or pay claims. Also, the bills would reduce from two years to one year the time for policyholders to provide notices of loss for initial claims and reopened claims.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The List: Here's the largest corporate accounting firms in Jacksonville - Jacksonville Business JournalThe List: Here are the area's largest accounting firms
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Murals with Meanings initiative in Jacksonville - Jacksonville Business JournalHearts for Minds turns family tragedy into nonprofit organization and mural art initiative to promote mental health awareness.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Outside Voices: Preparing for inflection points in your business - Jacksonville Business JournalAs year changes, think of what changes might be on the horizon for your business.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Outside Voices: Preparing for inflection points in your business - Jacksonville Business JournalAs year changes, think of what changes might be on the horizon for your business.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

City of St. Augustine receives $750K in grants to repair marina - Jacksonville Business JournalThe St. Augustine Municipal Marina suffered some damage from two tropical storms in the fall.
Source: JaxBizJournal - 🏆 599. / 51 Read more »

Aviation trends this year - Jacksonville Business Journal2022 began Jacksonville International's climb out of the depths of Covid. Here's where things stand now — and what's on the horizon.
Source: JaxBizJournal - 🏆 599. / 51 Read more »