| 1 | Representative Hager offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Between lines 767 and 768, insert: |
| 5 | Section 14. Subsection (3) of section 626.916, Florida |
| 6 | Statutes, is amended to read: |
| 7 | 626.916 Eligibility for export.- |
| 8 | (3)(a) Subsection (1) does not apply to wet marine and |
| 9 | transportation or aviation risks which are subject to s. |
| 10 | 626.917. |
| 11 | (b) Paragraphs (1)(a)-(d) do not apply to classes of |
| 12 | insurance which are subject to s. 627.062(3)(d)1. These classes |
| 13 | may be exportable under the following conditions: |
| 14 | 1. The insurance must be placed only by or through a |
| 15 | surplus lines agent licensed in this state; |
| 16 | 2. The insurer must be made eligible under s. 626.918; and |
| 17 | 3. The insured must sign a disclosure that substantially |
| 18 | provides the following: "You are agreeing to place coverage in |
| 19 | the surplus lines market. Superior coverage may be available in |
| 20 | the admitted market and at a lesser cost. Persons insured by |
| 21 | surplus lines carriers are not protected under the Florida |
| 22 | Insurance Guaranty Act with respect to any right of recovery for |
| 23 | the obligation of an insolvent unlicensed insurer." If the |
| 24 | notice is signed by the insured, the insured is presumed to have |
| 25 | been informed and to know that other coverage may be available, |
| 26 | and, with respect to the diligent-effort requirement under |
| 27 | subsection (1), there is no liability on the part of, and no |
| 28 | cause of action arises against, the retail agent presenting the |
| 29 | form. |
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| 32 | ----------------------------------------------------- |
| 33 | T I T L E A M E N D M E N T |
| 34 | Remove line 80 and insert: |
| 35 | under certain circumstances; amending s. 626.916, F.S.; revising |
| 36 | provisions relating to insurance coverage eligibility for export |
| 37 | under the Surplus Lines Law; providing applicability; |