Bill
HB 367
Florida home and service warranty associations can meet financial requirements with multiple contractual liability policies, ensuring 100% claims payment either as incurred or if t
Note: the bill information you gave at the top (HB 367 — “Rural hospital transfer to major hospital…”, introduced 11/12/2024, Died in Committee) does not match the bill documents you provided. The documents you supplied (Committee Reports and final analysis) relate to a different HB 367 titled “Home and Service Warranty Association — Financial Requirements” (CS/CS/HB 367 / CS/CS/SB 282). Below I summarize the warranty-association bill contained in your documents. If you instead want a summary of the rural-hospital transfer bill, please upload that bill text or confirm and I will summarize it.
Summary — CS/CS/HB 367 (Home and Service Warranty Association — Financial Requirements)
Status: Passed as CS/CS/SB 282; approved by Governor (ch. 2025-160). Effective date reported in final analysis: July 1, 2025 (an earlier committee analysis listed Jan 1, 2026).
Purpose and intent
- Provide regulatory flexibility to Florida-licensed home warranty associations and service warranty associations in how they meet statutory financial security requirements, while preserving consumer protection that claims will be paid.
Key provisions and changes
- Multiple contractual liability policies permitted: Associations may satisfy statutory contractual liability/financial requirements through one or more contractual liability insurance policies issued by multiple insurers (instead of being limited to a single contractual liability policy). (Sections 1 & 2.)
- Claims-payment requirement for contractual liability policies: Any contractual liability insurance used to meet requirements must either (a) pay 100% of claims as they are incurred, or (b) pay 100% of claims due if the association fails to pay when due. (Sections 1 & 2.)
- Accidental-damage-from-handling coverage: All contracts that provide coverage for “accidental damage from handling” must be backed by a contractual liability policy as required by law, except for associations statutorily exempted from reserve and insurance requirements. (Section 3.)
- Reduced documentation burden for service warranty associations: To show a parent company’s required net worth when seeking an exemption from reserve/contracting requirements, a service warranty association may file either audited financial statements or SEC (or equivalent exchange) filings — not both. (Section 2.)
- Effective date: Final analysis indicates the enacted chapter is effective July 1, 2025 (some committee materials earlier listed Jan 1, 2026).
Who is affected
- Primary: Florida home warranty associations and service warranty associations and their insurers.
- Secondary: Consumers who purchase home or service warranties (indirectly affected through the security and payment assurances required of insurers).
- Regulator: Florida Office of Insurance Regulation (OIR), which oversees licensing and financial compliance for warranty associations.
Fiscal/economic impact
- Committee and final analyses report no fiscal/economic impact on the state.
Potential practical effects
- Industry flexibility: Associations can spread contractual-liability coverage across multiple insurers, potentially increasing market options and lowering costs or enabling more tailored risk placement.
- Consumer protection strengthened in that insurer policies must guarantee payment of all claims (100% as incurred or 100% if the association defaults).
- Slight reduction in regulatory paperwork for service warranty associations seeking exemption based on parent-company net worth.
Procedural/timeline notes
- Bill progressed through Insurance & Banking and Commerce committees (favorable committee reports).
- Passed the Legislature (final actions and dates appear in the provided legislative actions).
- Enacted as CS/CS/SB 282 and signed by the Governor (chapter law 2025-160); effective date shown as July 1, 2025 in the final bill analysis.
If you want:
- A shorter two- or three-bullet summary for a newsletter; or
- A summary tailored to consumers (plain-language explanation of what protections change); or
- A summary of the rural hospital transfer HB 367 you mentioned — please send that bill text or confirm which HB 367 you want summarized.
Compiled from official sources — confirm details with the bill’s official record.
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