Holland & Knight LLP issued the following announcement on Aug. 7.
The Florida Supreme Court recently chose to not hear a case regarding the validity of certain language around assignment of benefit agreements. Rather, the court ruled that a law passed by the Florida Legislature which took effect July 1, addresses the matter.
Regulatory Attorney Andrew Marcus commented on the decision to dismiss the case, saying that it "leaves a number of issues, and prior cases, unresolved."
"The [court’s] 2019 decision was not retroactive and there are pending assignment of benefits cases throughout the state, many of which are based on the practices of unscrupulous contractors," said Mr. Marcus. "A conflict also remains among jurisdictions as to whether it is a restriction on a policy to require a post-loss assignment of benefits be conditioned upon the consent of parties with valid, vested interests in the property, like mortgagees."
Original source can be found here.