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Email On April 24, 2019, the Florida Legislature passed a bill (the “Act”) to reform the requirements for the assignment of benefits of claims for residential and commercial property insurance. The Act is expected to become law. Assignment of benefits in Florida has been a concern for the ILS market as related litigation has become a significant factor in losses and claims development for a number of outstanding catastrophe bonds. https://www.cadwalader.com/resources/clients-friends-memos/cat-bond-update-florida-assignment-of-benefits