TALLAHASSEE — Florida Gov. Rick Scott on Tuesday signed a bill that supporters say will help make certain that people receive life-insurance benefits after family members die. The bill (SB 966), sponsored by Senate Banking and Insurance Chairwoman Lizbeth Benacquisto, R-Fort Myers, and Rep. Bill Hager, R-Delray Beach, involves requirements for insurers to use what is known as the United States Social Security Death Master File to help find beneficiaries. The state Office of Insurance Regulation issued a statement after Scott signed the bill saying Florida will be the first state to approve “comprehensive” legislation involving the requirements. Hager’s office said many life insurers historically have held policy benefits until contacted by beneficiaries. As a result, the companies have not paid benefits if they haven’t been contacted.
News Service of Florida