The 2020 Legislative Session
IMPORTANT CALL TO ACTION
RED ALERT LEGISLATIVE BULLETIN
ATTEMPT TO ADD MAJOR WATER LOSS COVERAGE GAP TO STATUTE!!!
FAPIA constantly has to monitor legislation throughout the legislative session each year to make sure anti-consumer language is not added that would negatively effect policyholders and their representatives. This year is no exception.
We are alerting you that
Senator Keith Perryhas filed an amendment to his
Senate Bill 1404 Department of Financial Services which creates statutory authority for a statutory $10K or ten percent Water Loss Cap. The language also provides an unnecessary incentive for insurers to increase the use of anti consumer managed repair programs!!!
We are asking that every public adjuster pick up the phone tomorrow morning from 7:00 a.m. to 9:00 a.m. and call the Senate Appropriations Committee Chair,
Senator Rob Bradley office to explain the following:
Why is this strike all amendment being filed so late? Is it because this anti consumer language would never have made it out of the Banking and Insurance Committee?
The language in this bill seems to indicate that even if a policyholder purchased a policy worth $250,000 they would only be entitled to $12,500.00. This is very unfair to unsuspecting insurance consumer and will only cause unnecessary financial hardship to policyholders when they need help most.
Codifying insurance coverage gaps into statute is not the role of our elected officials.
