Florida Statutes
Fla. Stat. § 627.422 (2025)
Assignment of policies or post-loss benefits.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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627.422 Assignment of policies or post-loss benefits.—A policy may be assignable, or not assignable, as provided by its terms. Any such assignment shall entitle the insurer to deal with the assignee as the owner or pledgee of the policy in accordance with the terms of the assignment, until the insurer has received at its home office written notice of termination of the assignment or pledge or written notice by or on behalf of some other person claiming some interest in the policy in conflict with the assignment.
(1) LIFE OR HEALTH INSURANCE POLICIES.—Subject to its terms relating to assignability, any life or health insurance policy under the terms of which the beneficiary may be changed upon the sole request of the policyowner may be assigned either by pledge or transfer of title, by an assignment executed by the policyowner alone and delivered to the insurer, whether or not the pledgee or assignee is the insurer.
(2) POST-LOSS BENEFITS UNDER CERTAIN PROPERTY INSURANCE POLICIES.—A residential or commercial property insurance policy may not prohibit the assignment of post-loss benefits unless it complies with s. 627.7153.
History.—s. 471, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 372, 377, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318; s. 3, ch. 2019-57.
Notes of Decisions
Cited in 18
cases (5 in the last 5 years), 1977–2024 · leading case: Wells Fargo Bank, N.A. v. Pruco Life Ins. Co., 200 So. 3d 1202 (Fla. 2016).
Wells Fargo Bank, N.A. v. Pruco Life Ins. Co., 200 So. 3d 1202 (Fla. 2016). “See § 627.422, Fla. Stat. The secondary market provides an alternative for policyholders desiring to cash out their policies because it allows them to sell to an investor at a higher amount than they would receive by surrendering the policies back to the insurance company.”
Millard Gutter Co. v. Farm Bureau Prop. & Cas. Ins. Co., 889 N.W.2d 596 (Neb. 2016). “18, § 2720 (1999); Fla. Stat. Ann. § 627.422 (West 2016); Ga.”
Lexington Ins. v. Simkins Indus., 704 So. 2d 1384 (Fla. 1998). “§ 627.422, Fla. Stat. (1995) (emphasis added).”
One Call Prop. Servs., Inc. a/a/o William Hughes v. Sec. First Ins. Co., 165 So. 3d 749 (Fla. 4th DCA 2015). “” § 627.422, Fla. Stat. (2012). A chose in action 2 arising out of contract is assignable and “may be sued upon and recovered by the assignee in his *753 own name and right.”
Wehr Constructors, Inc. v. Assurance Co. of Am., 384 S.W.3d 680 (Ky. 2012). “1998) (applying Section 627.422, Florida Statutes (1995), which is substantially identical to KRS 304.”
Pruco Life Ins. Co. v. Wells Fargo Bank, N.A., 780 F.3d 1327 (11th Cir. 2015). “Fla. Stat. § 627.422 (1982). In support of this argument, Wells Fargo cites decisions from courts in other states that have refused to graft a good faith requirement onto similar statutory language.”
Maryland Cas. Co. v. Murphy, 342 So. 2d 1051 (Fla. 3d DCA 1977). “Pursuant to Section 627.422, Florida Statutes (1975), an insurer has the option of requiring or not requiring its consent to an assignment.”
Better Const. v. Nat. Union Fire Ins., 651 So. 2d 141 (Fla. 3d DCA 1995). “§ 627.422, Fla. Stat. (1993). The second reason is that Better may allege that National's payment pursuant to the consent judgment, without reservation of any rights, resulted in its approval of the settlement, and served to waive its rights under the no-action clause.”
Abraham K. Kohl, Dc v. Blue Cross, 955 So. 2d 1140 (Fla. 4th DCA 2007). “"); § 627.422, Fla. Stat. (2005) (A policy may be assignable, or not assignable, as provided by its terms.”
Classic Concepts, Inc. v. Poland, 570 So. 2d 311 (Fla. 4th DCA 1990). “Section 627.422, Florida Statutes (1989), provides that an insurer has the option of requiring or not requiring its consent to an assignment.”
Lewis State Bank v. Travelers Ins. Co., 356 So. 2d 1344 (Fla. 1st DCA 1978). “We first consider appellant's claim that by virtue of F.S. 627.422 the appellee insurance company was required to send it, as assignee, notice of default in the payment of premiums.”
Highlands Ins. Co. v. Kravecas, 719 So. 2d 320 (Fla. 3d DCA 1998). “Section 627.422, Florida Statutes (1991), provides that an insurance policy may or may not be assignable “as provided by its terms.”
— 627.422(2) — 1 case
Kwaku Adjei v. First Cmty. Ins. Co. (Fla. 3d DCA 2022).
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