PANAMA CITY BEACH-- Florida CFO Jeff Atwater joined us in our studio Wednesday to talk about the "Homeowners Claims Bill of Rights" bill that's waiting for Gov. Rick Scott's signature.
Atwater says his office receives more than 125,000 calls a year regarding insurance claim disputes.
If signed into law, the bill requires insurance companies to acknowledge your claim within 14 days of communicating your claim.
Also, upon written request, you must receive from your insurance company, within 30 days after you have submitted a complete proof-of-loss statement, confirmation that your claim is covered in full, partially covered, or denied or receive a written statement that your claim is being investigated.
Finally, within 90 days, subject to any dual interest noted in the policy, you must receive full settlement payment for your claim, payment of the undisputed portion of your claim, or your insurance company's denial of your claim.
The new law will also handle mediation of all disputes arising out of unsettled claims.
If Gov. Scott signs the bill into law, it will take effect August 1. For more information, you can visit the CFO's website at MyFloridaCFO.com.