For insurance companies doing business in the state, Florida House Bill 301 offers changes that should positively impact the bottom line. The changes relate to liability insurance, claims administration, civil remedies and property insurance claim mediation.

Liability Insurance—Right of Contribution for Defense Costs

With the passage of HB 301, liability insurers now have the ability to assert a claim of contribution for defense costs when multiple insurers are defending the same insured. This enables insurers to recover defense costs when another insurer has a right to defend and fails to do so.