Quote:
Originally Posted by villagetinker
Found this online: (highlights are mine)
Effective Removal of Assignment of Benefits Under Property Insurance Claims
SB-2A also significantly changes assignments in Florida as an assignment agreement must be executed under a residential or commercial property insurance policy on or after July 1, 2019, and before Jan. 1. Effectively, an insured will not be able to assign any rights under a residential or commercial property policy beginning in 2023.
Any attempt by an insured to assign post-loss property insurance benefits under a policy after Jan.1 will be void, invalid, and unenforceable. However, this prohibition of assigning post-loss insurance benefits may not apply to surplus lines insurers. It does not specifically state that it applies to a surplus lines insurer.
Now I have no idea what a "surplus lines insurer" is....
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Surplus lines insurance are insurance companies which do not need to follow all Florida regulations and are not backed up by FIGA (back up insurance for non surplus lines carriers). Lloyds of London is a surplus lines carrier.