Bill > H0503

Introduced Session

An act relating to insurance; amending s. 215.555, F.S.; revising the definition of the term "covered policy" under the Florida Hurricane Catastrophe Fund in relation to certain collateral protection insurance policies; amending s. 440.381, F.S.; revising the annual audit requirement for construction classes to apply to policies having estimated annual premiums of at least a specified amount; amending s. 624.413, F.S.; providing circumstances under which certain persons are deemed to have control and are subject to specified requirements; authorizing the Office of Insurance Regulation to apply specified criteria to specified applications to make certain determinations; creating s. 624.46227, F.S.; authorizing any association, trust, or pool created for the purpose of forming a risk management mechanism or providing self- insurance for a public entity to use communications media technology to establish a quorum and conduct public business; amending s. 626.221, F.S.; exempting certain applicants for licensure as all-lines adjusters from a required examination; amending s. 626.856, F.S.; revising the definition of the term "company employee adjuster"; amending s. 627.062, F.S.; authorizing the use of a certain modeling indication for residential property insurance rate filings; amending s. 627.0628, F.S.; revising the membership of the Florida Commission on Hurricane Loss Projection Methodology; amending s. 627.0629, F.S.; authorizing insurers to file certain insurance rating plans based on specified windstorm mitigation construction standards under certain circumstances; amending s. 627.0665, F.S.; revising the number of days of advance written notice that an insurer must give a named insured when a policy premium is increased under certain circumstances; revising notification requirements for insurers who have automatic bank withdrawal agreements with insureds to include notices when withdrawal amounts increase above a specified threshold; amending s. 627.351, F.S.; revising conditions for determining the ineligibility of condominiums for wind-only coverage; amending s. 627.421, F.S.; deleting a requirement for electronic transmission of certain documents to include specified notices; deleting a requirement that paper copies of policies be provided upon request; amending ss. 627.701 and 627.712, F.S.; revising policyholder acknowledgment statement requirements for property insurance policies having certain hurricane deductibles or windstorm or contents coverage exclusions, respectively; amending s. 627.7152, F.S.; revising the definition of the term "assignment agreement"; specifying the addresses to which a notice of intent must be served; amending s. 627.7276, F.S.; revising notice requirements for motor vehicle policies that do not provide coverage for bodily injury and property damage liability; amending ss. 634.171, 634.317, and 634.419, F.S.; authorizing licensed personal lines or general lines agents to solicit, negotiate, advertise, or sell motor vehicle service agreements, home warranty contracts, and service warranty contracts, respectively, without a sales representative license; making technical changes; reenacting ss. 624.424(10) and 627.351(6)(v), F.S., relating to annual statements and other information and Citizens Property Insurance Corporation, respectively, to incorporate the amendment made to s. 215.555, F.S., in references thereto; reenacting s. 626.865(1)(e), F.S., relating to public adjuster's qualifications, to incorporate the amendment made to s. 626.856, F.S., in a reference thereto; reenacting s. 626.8734(1)(b), F.S., relating to nonresident all-lines adjuster license qualifications, to incorporate the amendment made to s. 626.221, F.S., in a reference thereto; reenacting s. 627.7153(1) and (2)(d), F.S., relating to policies restricting assignment of post-loss benefits under a property insurance policy, to incorporate the amendment made to s. 627.7152, F.S., in references thereto; providing effective dates.

AI Summary

Committee Categories

Tommy Gregory (R)*, 

Other Sponsors (2)

Laid on Table, refer to CS/CS/SB 468 (on 03/08/2022)

Official Document