• Florida Governor Rick Scott Signs Senate Bill 408 Into Law
  • July 6, 2011
  • Law Firm: Bressler, Amery & Ross A Professional Corporation - Miramar Office
  • Florida Governor Rick Scott signed Senate Bill 408 (SB408) into law on May 17, 2011. The legislative intent of SB408 is to reform the unstable property insurance market and make several substantial changes to Florida’s property insurance laws, addressing some of the issues that have resulted in increased costs. The more significant provisions of the law impacting property insurance coverage in the State impose a uniform statute of limitations, limit sinkhole losses, change the holdback requirements on dwelling and contents coverage, restrict the statute of limitations on sinkhole and hurricane claims, and cap public adjusters’ compensation. The law does not apply retroactively, so the amendments generally will apply to new claims and suits as of the effective date. These provisions are addressed below.