The state of Florida and Florida Farm Bureau Insurance Companies worked out an agreement concerning guidelines on coverage for mold in homeowners policies. According to United Press International, the detailed guidelines apply only to Florida Farm Bureau policies.
Under the agreement, which is reported to be the first worked out between the state and an insurance company, Florida Farm Bureau will provide $10,000 in coverage per incident, with a maximum of $20,000.
An insurance department spokesperson indicated that Florida has received 238 requests from insurers wanting to exclude mold coverage or provide up to $10,000.
A hearing on the issue before an administrative judge is scheduled for mid-January for State Farm Insurance Company, one of the largest home insurers in Florida.
Topics Florida Agribusiness
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