2024: Statutory – Time Frame for Filing Loss Assessment Claims – FL
To: Residential condominium unit owners
What: Loss Assessment Claims
From: Florida Governor
Date: July 1, 2024
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Effective as of July 1, 2024, Florida Statute 627.70132(4)(a) creates time frames by which a residential condominium unit owner must file a loss assessment claim. It states that a notice of claim for loss assessment coverage must be provided to the insurer within one year after the date of loss or within 90 days after the condominium association votes to levy an assessment. It also says the date of loss is the date of the covered loss event that created the need for an assessment.
Florida Statute 627.70132
(4)(a) A notice of claim for loss assessment coverage under s. 627.714 may not occur later than 3 years after the date of loss and must be provided to the insurer the later of:
- Within 1 year after the date of loss; or
- Within 90 days after the date on which the condominium association or its governing board votes to levy an assessment resulting from a covered loss.
(b) For purposes of this subsection, the date of loss is the date of the covered loss event that created the need for an assessment.
