Florida Statute 627.7153 | Lawyer Caselaw & Research

The 2024 Florida Statutes

Title XXXVII
INSURANCE

Chapter 627
INSURANCE RATES AND CONTRACTS

View Entire Chapter

F.S. 627.7153

627.7153 Policies restricting assignment of post-loss benefits under a property insurance policy.—

(1) As used in this section, the term “assignment agreement” has the same meaning as provided in s. 627.7152.

(2) An insurer may make available a policy that restricts in whole or in part an insured’s right to execute an assignment agreement only if all of the following conditions are met:

(a) The insurer makes available to the insured or potential insured at the same time the same coverage under a policy that does not restrict the right to execute an assignment agreement.

(b) Each restricted policy is available at a lower cost than the unrestricted policy.

(c) The policy prohibiting assignment in whole is available at a lower cost than any policy prohibiting assignment in part.

(d) Each restricted policy include on its face the following notice in 18-point uppercase and boldfaced type:

THIS POLICY DOES NOT ALLOW THE UNRESTRICTED ASSIGNMENT OF POST-LOSS INSURANCE BENEFITS. BY SELECTING THIS POLICY, YOU WAIVE YOUR RIGHT TO FREELY ASSIGN OR TRANSFER THE POST-LOSS PROPERTY INSURANCE BENEFITS AVAILABLE UNDER THIS POLICY TO A THIRD PARTY OR TO OTHERWISE FREELY ENTER INTO AN ASSIGNMENT AGREEMENT AS THE TERM IS DEFINED IN SECTION 627.7152 OF THE FLORIDA STATUTES.

(3) The insurer shall notify the insured at least annually of the coverage options the insurer makes available under this section. Such notice must be part of and attached to the notice of premium.

(4) A named insured must reject a fully assignable policy in writing or electronically. The rejection of a fully assignable policy shall be made on a form approved by the office. The form must state that the policy restricts the assignment of benefits. The heading of the form shall be in 18-point uppercase and boldfaced type and state:

YOU ARE ELECTING TO PURCHASE AN INSURANCE POLICY THAT RESTRICTS THE ASSIGNMENT OF BENEFITS UNDER THE POLICY IN WHOLE OR IN PART. PLEASE READ CAREFULLY.

(5) This section applies to a policy issued or renewed on or after July 1, 2019.

History.—s. 2, ch. 2019-57.

F.S. 627.7153 on Google Scholar

F.S. 627.7153 on Casetext

Amendments to 627.7153

Arrestable Offenses / Crimes under Fla. Stat. 627.7153

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 627.7153.

Annotations, Discussions, Cases:

Cases Citing Statute 627.7153

Total Results: 5

THE RESTORATION TEAM a/a/o RICK SANTOS and IDALIA SANTOS v. SOUTHERN OAK INSURANCE COMPANY

Court: District Court of Appeal of Florida | Date Filed: 2023-02-15

Snippet: appeal has raised the applicability of section 627.7153, Florida Statutes (2019). See also Adjei v. First

KWAKU ADJEI v. FIRST COMMUNITY INSURANCE COMPANY

Court: District Court of Appeal of Florida | Date Filed: 2022-10-19

Snippet: We summarily reject the notion that section 627.7153, Florida Statutes (2019), which governs anti-assignment

MOLD BUSTER DETECTION SERVICES, LLC a/a/o ABRAHAM SOLANO v. CITIZENS PROPERTY INSURANCE CORPORATION

Court: District Court of Appeal of Florida | Date Filed: 2022-08-10

Snippet: had to comply with section 627.7153, Florida Statutes (2020). Section 627.7153 permits an insurance policy

THE KIDWELL GROUP, LLC d/b/a AIR QUALITY ASSESSORS OF FLORIDA a/a/o FRANCINE NOVEMBRE v. GEOVERA SPECIALTY INSURANCE COMPANY

Court: District Court of Appeal of Florida | Date Filed: 2021-10-13

Snippet: that in 2019, the Legislature enacted section 627.7153, Florida Statutes (2019), which expressly permits

EXTREME EMERGENCY FIRE & WATER RESTORATION LLC v. CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON

Court: District Court of Appeal of Florida | Date Filed: 2020-12-16

Snippet: 1, 2019 our Legislature has now done so. See §627.7153, Fla. Stat. (2019) (enacting a law, effective