Paul Sanchez
Florida Statute 627.4137 requires the disclosure of insurance information in certain circumstances. The law requires disclosure of the insurance policy and other related information from the insurer, the insurance agent, or the insured within 30 days of the request. This is particularly relevant in personal injury cases, where the injured party wants to ensure there is enough insurance to cover their injury claim. However, there are exceptions to this law, such as out-of-state insurers or policies not issued or delivered in Florida, and specific types of insurance like wet marine and transportation.
| Characteristics | Values |
|---|---|
| What | Disclosure of insurance policy |
| Why | To ensure there is enough insurance to cover injury claims |
| When | Within 30 days of a claimant's request |
| Who | The insurer, the insurance agent or the insured |
| Where | Florida |
| Exemptions | Out-of-state insurers, wet marine and transportation insurers |
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What You'll Learn
Florida Statute 627.4137
The statute requires a liability insurer to produce a copy of the policy and to disclose specific information, under oath, within 30 days of a claimant's request. This includes a statement of any policy or coverage defense that the insurer reasonably believes is available to them at the time of filing. The insured, or their insurance agent, must disclose the name and coverage of each known insurer to the claimant upon written request and forward the request for information to all affected insurers.
Despite the clear requirements, disputes often arise regarding the consequences of an insurer's failure to comply. While there does not appear to be a private right of action, claimants can file consumer complaints.
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Disclosure requirements
Florida Statute 627.4137 requires the disclosure of an insurance policy as well as other information regarding the insurance policy. This includes the name of the insurer, the name of each insured person, and the limits of liability coverage. The law requires disclosure of this information from the insurer, the insurance agent, or the insured within 30 days of the request.
The insured or their insurance agent must disclose the name and coverage of each known insurer to the claimant upon written request from the claimant or their attorney. The insurer must then supply the requested information within 30 days of receiving the request. This statement must be amended immediately upon discovery of facts that would change the statement.
Florida Statute 627.4137 does not apply to policies not issued or delivered in Florida. For example, if a Florida resident is injured in a car accident in another state, the out-of-state insurer is not required to disclose insurance information under Florida law.
Additionally, wet marine, transportation, and aviation risks that fall under F.S. 626.917 are exempt from the new law requiring a disclosure statement to be signed or acknowledged by the insured.
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Exempt insurers
In Florida, there are certain scenarios where an insurance company does not have to disclose insurance information. For example, if an accident involves an out-of-state insurer, that insurer is not required to disclose insurance information pursuant to Florida law. In the case of an accident in Florida involving a trucking company based in another state, the company's insurer is not required to disclose insurance information if the policy was not issued for delivery in Florida.
Wet marine, transportation, and aviation risks are exempt from the diligent effort requirement and do not require a diligent effort form. However, effective January 1, 2022, most coverages, including those that previously required a Diligent Effort form, now require a disclosure statement to be signed or acknowledged by the insured. The only exceptions to this new law are wet marine, transportation, and aviation risks that fall under F.S. 626.917.
Surplus lines agents are generally not required to keep a copy of the disclosure form. However, it is beneficial to keep a copy in case of disputes with the insured regarding surplus lines coverage placement. If a surplus lines agent also acts as a retail/producing agent, they are required to maintain a copy of the disclosure form. Obtaining and maintaining an accurate and complete surplus lines disclosure is the responsibility of the retail/producing agent, not the surplus lines agent.
For coverages that are statutorily exempt from the diligent effort requirement, the retail or producing agent is required to keep a disclosure statement signed by the named insured. This disclosure form must be signed by the insured or their designee. The producing agent is not required to sign the disclosure statement under Florida law.
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Disclosure in practice
Florida Statute 627.4137 requires the disclosure of insurance policy information in certain situations. This law applies to insurers providing liability insurance coverage and mandates that they disclose specific details upon request. The purpose of this statute is to ensure that injured individuals can access information about the liable party's insurance coverage when making settlement decisions.
In practice, this means that when an individual is injured, they or their attorney can request insurance information from the liable party's insurer, insurance agent, or the insured party themselves. This request must be made in writing, and the insurer has 30 days to provide the following information:
- The name of the insurer
- The name of each insured individual
- The limits of liability coverage
- Any policy or coverage defences that the insurer believes are applicable
Additionally, in the case of a vehicle accident, the driver involved has a duty to provide specific information, including their name, address, and vehicle registration number. This information must be given to any injured individuals, other affected drivers or occupants, and the police.
It is important to note that Florida's insurance disclosure laws do not apply in all scenarios. For example, out-of-state insurers are not subject to these laws, and there are specific exemptions for certain types of insurance, such as wet marine and transportation insurance.
To obtain insurance information in Florida, it is recommended to send a proper statutory letter or consult with a licensed Florida attorney, as each case is unique and must be assessed on its own merits.
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Non-compliance consequences
Florida Statute 627.4137 requires the disclosure of an insurance policy and other related information. This law applies to the insurer, the insurance agent, or the insured. In the event of an injury, this information must be disclosed within 30 days of the request.
Non-compliance with this statute can have several consequences, including:
Legal Consequences
Failure to comply with Florida Statute 627.4137 can result in legal repercussions, as outlined in Florida's common law. An insurer's non-compliance can be grounds for extracontractual exposure, as it obstructs the settlement process by depriving the claimant of crucial information needed to evaluate the case.
Financial Consequences
Non-compliance can also lead to financial implications. For example, in the case of a car accident, the accident report typically lists the insurance companies and policies involved. If an insurer fails to disclose this information, they may be held financially liable for any damages or injuries caused in the accident.
Impediment to Settlement
By not disclosing insurance information, insurers may hinder the settlement process. This nondisclosure prevents claimants from making informed decisions about their claims and can result in prolonged legal disputes.
Reputational Damage
Insurers who do not comply with the statute risk damaging their reputation. Voluntarily disclosing information as outlined in the statute can help protect both the insured and the insurer. Non-compliance may indicate a lack of transparency and trustworthiness, which could reflect poorly on the insurer.
It is important to note that each case is unique, and the specific consequences of non-compliance may vary depending on the circumstances. Seeking legal advice from a licensed Florida attorney is advisable to understand how the law applies to a specific situation.
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Frequently asked questions
Florida Statute 627.4137 requires an insurer that provides liability insurance coverage to disclose certain information.
The two most common types of liability insurance are: Bodily injury (BI) liability in an auto insurance policy and Liability insurance in a commercial general liability (CGL) policy.
The insurer must disclose the following information: a) the name of the insurer; b) the name of each insured; c) the limits of liability coverage, and d) a statement of any policy or coverage defense.
The insurer shall supply the information required within 30 days of receiving the request.
No, there are certain scenarios where an insurance company does not have to disclose insurance information. For example, if the policy was not delivered in Florida or issued for delivery in Florida, the insurer does not have to disclose the information.
