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Bill Would Prohibit Using Attorney Fees to Justify Rate Change

Wednesday, November 1, 2017 | 192 | 0 | 0 min read

A bill has been introduced in the Florida Senate that would prohibit attorney fees paid under the state’s workers’ compensation law and the Florida insurance code from being included in an insurer’s rate base. Sen. Gary Farmer Senate Bill 256 would also prohibit insurers from using attorney fees to justify a rate change. The bill was introduced by Sen. Gary Farmer, D-Fort Lauderdale. It was referred last month to committees on Banking and Insurance, Appropriations, and Rules. The bill would take effect on July 1. ...

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Comments

David Caldevilla Nov 1, 2017 05:58 AM

About time! Why should an insurance company be allowed to unlawfully deny your claim, get sued, lose the lawsuit, and then include the legal expenses associated with its unlawful conduct in its rate base to justify increasing our insurance premiums? Allowing insurance companies to do this allows them to recoup the legal expenses associated with their bad faith and then make a profit on top of it! Outrageous!

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Frank Pennachio Nov 1, 2017 01:43 PM

You can't legislate prices ... remember Nixon's Wage and Price Controls ... how did that work out.

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