2024: Regulatory – Grace Periods Extended Following Hurricane Milton – Florida
To: All insurers and certain policyholders in Florida
What: Extending grace periods; Limitations on Cancellations and Nonrenewals
From: Florida Office of Insurance Regulation
Date: October 5, 2024, as modified
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OIR issued EO 400386-24 to protect policyholders impacted by Hurricane Milton. The order applies to all insurers in the state and policyholders in Brevard, Charlotte, Citrus, Clay, Collier, DeSoto, Duval, Flagler, Glades, Hardee, Hendry, Hernando, Highlands, Hillsborough, Indian River, Lake, Lee, Manatee, Marion, Martin, Nassau, Okeechobee, Orange, Osceola, Palm Beach, Pasco, Pinellas, Polk, Putnam, Sarasota, Seminole, St. Johns, St. Lucie, Sumter, and Volusia.
Extends grace periods for any policy, provision, notice, correspondence, or law that imposes a time limit upon an insured to perform any act until December 10, 2024.
Prohibits the cancellation or nonrenewal of a policy in an impacted area, except at the written request of the policyholder, until December 10, 2024.
Prohibits the cancellation or nonrenewal of a personal residential or commercial residential property insurance policy covering a property repaired as a result of damage from Hurricane Milton for a period of 90 days after it has been repaired.
Directs insurers, surplus lines and other regulated entities to implement processes and procedures to facilitate the efficient payment of claims.
