Bill Text: FL H0961 | 2012 | Regular Session | Introduced

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Bill Title: Title Insurance Claims

Spectrum: Partisan Bill (Republican 1-0)

Status: (Failed) 2012-03-09 - Died in Insurance and Banking Subcommittee [H0961 Detail]

Download: Florida-2012-H0961-Introduced.html

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HB 961

1	A bill to be entitled
2	An act relating to title insurance claims; creating s.
3	627.7832, F.S.; providing that after a specified time,
4	a title insurer must pay the claim or cover the
5	insured's costs until the claim is cured; providing
6	applicability; providing an effective date.
7
8	Be It Enacted by the Legislature of the State of Florida:
9
10	Section 1.  Section 627.7832, Florida Statutes, is created
11	to read:
12	627.7832  Claims payment.-A title insurer has the right to
13	cure each claim made. However, after 90 days without a cure the
14	insurer must tender payment of full policy limits to the insured
15	or cover all additional costs incurred by the insured, including
16	attorney fees and costs, until the cure is finalized. This
17	section applies to all title claims filed on or after July 1,
18	2012.
19	Section 2.  This act shall take effect July 1, 2012.

CODING: Words stricken are deletions; words underlined are additions.