Florida § 627.70154 - Mandatory binding arbitration.
Full text of Florida Florida Statutes § 627.70154 — Mandatory binding arbitration., with citation guidance and answers to common questions.
§ 627.70154. Mandatory binding arbitration.
A property insurance policy issued in this state may not require that a policyholder participate in mandatory binding arbitration unless all of the following apply: (1) The mandatory binding arbitration requirements are contained in a separate endorsement attached to the property insurance policy. (2) The premium that a policyholder is charged for the policy includes an actuarially sound credit or premium discount for the mandatory binding arbitration endorsement. (3) The policyholder signs a form electing to accept mandatory binding arbitration. The form must notify the policyholder of the rights given up in exchange for the credit or premium discount, including, but not limited to, the right to a trial by jury. (4) The endorsement establishes that an insurer will comply with the mediation provisions set forth in s. 627.7015 before the initiation of arbitration. (5) The insurer also offers the policyholder a policy that does not require that the policyholder participate in mandatory binding arbitration.
Frequently Asked Questions About Florida § 627.70154
What does Florida Statutes § 627.70154 cover?
Section 627.70154 ("Mandatory binding arbitration.") is part of the Florida Statutes, the codified statutory law of Florida. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Florida § 627.70154?
A common citation format is "Florida Statutes § 627.70154" (Florida). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Florida law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Florida official source linked on this page or consult a licensed Florida attorney.
How does Florida § 627.70154 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Florida can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Florida.