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HB 761 (2012) -  Property Loss Appraisals

by Artiles
Requires Citizens Property Insurance Corporation's plan of operation to provide for adoption of policy forms that require compliance with conditions & procedures relating to participation of umpires & appraisers in loss appraisal process; provides either party may submit written demand to enter into process of appraisal when insured & corporation fail to mutually agree to actual cash value, amount of loss, or cost of repair or replacement of property for which claim has been filed; provides exception upon which corporation may refuse to accept demand; provides that corporation waives right to demand appraisal under certain circumstances; requires each party to select competent & independent appraiser & notify opposing party within specified period; requires appraisers to select appraisal umpire under certain circumstances; authorizes either party to file petition, in county or circuit court in jurisdiction in which covered property is located, to designate appraisal umpire if appraisers cannot agree on selection of umpire; provides that appraisal proceedings are informal unless corporation & insured agree otherwise; defines & provides scope of term "informal" for purposes of appraisal proceedings; requires each appraiser to submit written report to other appraiser; provides for appraisal awards & compensation of appraisers & umpire; provides applicability & limitations.
Effective Date: July 1, 2012
Last Event: Died in Insurance & Banking Subcommittee on Friday, March 9, 2012 11:59 PM

Referred Committees and Committee Actions

Related Bills

Staff Analysis

(None Available)

Vote History

(No Votes Recorded)

Bill History

Event Time Member Committee Ver.
Event: H Died in Insurance & Banking Subcommittee Time: 03/09/2012 - 11:59 PM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H 1st Reading Time: 01/10/2012 - 11:59 PM Member: Committee: Version: __
Event: H Now in Insurance & Banking Subcommittee Time: 12/12/2011 - 9:03 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Referred to Economic Affairs Committee Time: 12/12/2011 - 9:03 AM Member: Committee: Economic Affairs Committee Version: __
Event: H Referred to Civil Justice Subcommittee Time: 12/12/2011 - 9:03 AM Member: Committee: Civil Justice Subcommittee Version: __
Event: H Referred to Insurance & Banking Subcommittee Time: 12/12/2011 - 9:03 AM Member: Committee: Insurance & Banking Subcommittee Version: __
Event: H Filed Time: 11/23/2011 - 10:29 AM Member: Artiles Committee: Version: __

Statutes Referenced by this Bill

Statute Other Bill Citations
627.351 CS/CS/HB 245*, CS/SB 578, SB 896, CS/CS/HB 1101*, HB 1127*, SB 1318, CS/SB 1346, SB 1566, CS/CS/SB 1620, SB 1784, HB 7007*

(*) Not the latest version