Florida Senate - 2011                        COMMITTEE AMENDMENT
       Bill No. SB 408
       
       
       
       
       
       
                                Barcode 925914                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                 Comm: UNFAV           .                                
                  02/22/2011           .                                
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       The Committee on Banking and Insurance (Smith) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3  
    4         Delete lines 2609 - 2645
    5  and insert:
    6         Section 18. The Legislature finds and declares:
    7         (1) There is a compelling state interest in maintaining a
    8  viable and orderly private-sector market for property insurance
    9  in this state. The lack of a viable and orderly property market
   10  reduces the availability of property insurance coverage to state
   11  residents, increases the cost of property insurance, and
   12  increases the state’s reliance on a residual property insurance
   13  market and its potential for imposing assessments on
   14  policyholders throughout the state.
   15         (2) Sections 19 through 24 of this act, revise and adopt
   16  new technical or scientific definitions in order to implement
   17  and advance the Legislature’s intended reduction of sinkhole
   18  claims and disputes. The legal presumption intended by the
   19  Legislature is also revised to reduce disputes and litigation
   20  associated with the technical reviews associated with sinkhole
   21  claims. Certain other revisions to ss. 627.706–627.7074, Florida
   22  Statutes, are enacted to advance legislative intent to rely on
   23  scientific or technical determinations relating to sinkholes and
   24  sinkhole claims, reduce the number and cost of disputes relating
   25  to sinkhole claims, and ensure that repairs are made
   26  commensurate with the scientific and technical determinations
   27  and insurance claims payments.
   28         (3) Sections 19 through 24 of this act affect only claims
   29  under policies issued on or after July 1, 2011.
   30  
   31  ================= T I T L E  A M E N D M E N T ================
   32         And the title is amended as follows:
   33         Delete lines 151 - 153
   34  and insert:
   35         legislative intent with respect to statutory changes
   36         in the act relating to sinkhole insurance coverage;
   37         providing applicability; amending s. 627.706,