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Fla. House Passes Bill Aimed At 3rd-Party Insurance Payouts

Law360, Miami (January 12, 2018, 7:57 PM EST) -- The Florida House of Representatives on Friday passed a bill designed to curtail perceived abuses of a system that allows repair contractors to pursue payment directly from property owners' insurance carriers, which the insurance industry has blamed for increases in premiums.

The legislation, H.B. 7015, would roll out several reforms targeting so-called assignments of benefits, through which a policyholder signs over its rights to seek direct payment under an insurance policy to a third-party contractor, such as a water extraction company, roofer or plumber.

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