The bill now heads to the House floor, where it will likely pass, says Michael Carlson, president of the Personal Insurance Federation of Florida. But some clever planning would be needed in the Senate to get a companion bill ready before committees meet for the last time on April 25, Carlson said. The House bill is intended to encourage settlements and dissuade attorneys from filing lawsuits when representing repair contractors working under post-claim assignments. If enacted, contractors and their attorneys would be entitled to attorneys fees only if they win a judgment that exceeds an insurers initial offer by a wide margin. A judgment that exceeds an insurers initial claim settlement offer by a narrower margin would result in neither side receiving attorneys fees or, if the margin is narrow enough, the insurer being entitled to attorneys fees. Insurers and their supporters mostly spoke in support of the bill, while contractors and trial attorneys mostly opposed it. The bill goes a long way toward mitigating a cost driver for Florida insurers, said David Altmaier, the state insurance commissioner. But Rep. Joesph Geller, D-Dania Beach, unsuccessfully tried to strip the proposed fee formula from the bill, warning it was untested and unvetted and likely to be challenged in court. Insurers and their supporters say theyve been hit All About Insurance Claims Advice with escalating costs from South Florida attorneys who have figured out how to exploit a longtime consumer-protection law that shields policyholders from paying insurers legal fees if they sue over a claim and lose.
We are pleased to provide this latest enhancement for the tens of thousands of industry professionals who interact with the department on a daily basis, said Connecticut Insurance Commissioner Katharine L. Wade in a press release. We continue to strive for more regulatory efficiencies so that doing business with the state of Connecticut is more user-friendly. This new licensing site is another example of how we are accomplishing that. Other recent regulatory enhancements at the department include: Online renewal notices for casualty adjusters and motor vehicle property damage appraisers has saved $40,000 in processing and mailing costs. An online pay portal for licensees that expedites revenue collection for the General Fund. A new licensing phone system automatically routes caller to the proper subject matter expert. An online electronic application for all out-of-state (foreign) carriers seeking to do business in Connecticut through the Uniform Certificate of Authority Application. This includes applications for expansion and corporate amendments. Turnaround time for product reviews in both Life & Health and Property & Casualty have greatly improved as a result of the CIDs LEAN processes.
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