Loss-run statements are a win in House committee

A House panel moved a bill that would let insurance consumers know their “loss-run” history.

HB 269, filed by Rep. Daniel Perez, would require companies on request to provide a five-year “loss-run” history of claims against commercial insurance companies.

If there is not five years of loss-run history, a complete record of claims and liabilities to insurers would be provided instead.

On Wednesday afternoon, Perez told the House Insurance and Banking Subcommittee this “pro-consumer” bill “established a framework” for consumers to get these reports in 15 days.

The Florida Association of Insurance Agents showed in support of the bill, which has bipartisan backing.

“Many people in the insurance industry will thank our committee for passing this bill,” asserted Broward County Democratic Rep. Richard Stark.

This bill has two committee stops to go before the House floor.

The Government Operations and Technology Appropriations Subcommittee and the Commerce Committee are the next stops.

Meanwhile, there is momentum also in the Senate. That version is slated for its first committee stop Tuesday, in the Banking and Insurance Subcommittee.