SENATE AMENDMENT
Bill No. SB 594
Amendment No. ___ Barcode 220004
CHAMBER ACTION
Senate House
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04/30/2003 04:17 PM .
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11 Senator Atwater moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 1, between lines 26 and 27,
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16 insert:
17 Section 2. Subsection (1) of section 627.4035, Florida
18 Statutes, is amended to read:
19 627.4035 Cash payment of premiums; claims.--
20 (1) The premiums for insurance contracts issued in
21 this state or covering risk located in this state shall be
22 paid in cash consisting of coins, currency, checks, or money
23 orders or by using a debit card, credit card, automatic
24 electronic funds transfer, or payroll deduction plan.
25 Section 3. Subsection (9) is added to section
26 627.7015, Florida Statutes, to read:
27 627.7015 Alternative procedure for resolution of
28 disputed property insurance claims.--
29 (9) For purposes of this section, the term "claim"
30 refers to any dispute between an insurer and an insured
31 relating to a material issue of fact other than a dispute:
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6:42 PM 04/29/03 s0594c-25c8j
SENATE AMENDMENT
Bill No. SB 594
Amendment No. ___ Barcode 220004
1 (a) With respect to which the insurer has a reasonable
2 basis to suspect fraud;
3 (b) Where, based on agreed-upon facts as to the cause
4 of loss, there is no coverage under the policy;
5 (c) With respect to which the insurer has a reasonable
6 basis to believe that the claimant has intentionally made a
7 material misrepresentation of fact which is relevant to the
8 claim, and the entire request for payment of a loss has been
9 denied on the basis of the material misrepresentation; or
10 (d) With respect to which the amount in controversy is
11 less than $500, unless the parties agree to mediate a dispute
12 involving a lesser amount.
13 Section 4. Subsection (1) of section 627.901, Florida
14 Statutes, is amended to read:
15 627.901 Premium financing by an insurance agent or
16 agency.--
17 (1) A general lines agent may make reasonable service
18 charges for financing insurance premiums on policies issued or
19 business produced by such an agent or agency, s. 626.9541
20 notwithstanding. The service charge shall not exceed $3 $1
21 per installment, or a $6 total service charge per year, for
22 any premium balance of $120 or less. For any premium balance
23 greater than $120 but not more than $220, the service charge
24 shall not exceed $9 per year. The maximum service charge for
25 any premium balance greater than $220 shall not exceed $36 $12
26 per year. In lieu of such service charges, an insurance agent
27 or agency, at the sole discretion of such agent or agency, may
28 charge a rate of interest not to exceed 18 percent simple
29 interest per year on:
30 (a) The unpaid balance; or
31 (b) The average unpaid balance as billed over the term
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6:42 PM 04/29/03 s0594c-25c8j
SENATE AMENDMENT
Bill No. SB 594
Amendment No. ___ Barcode 220004
1 of the policy and subject to endorsement changes. The interest
2 authorized by this paragraph may be billed in equal
3 installments.
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5 (Redesignate subsequent sections.)
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8 ================ T I T L E A M E N D M E N T ===============
9 And the title is amended as follows:
10 On page 1, line 6, after the semicolon
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12 insert:
13 amending s. 627.4035, F.S.; providing for the
14 payment of insurance premiums by a debit or
15 credit card, automatic electronic funds
16 transfer, or payroll deduction plan; amending
17 s. 627.7015, F.S.; defining "claim" for
18 purposes of alternative procedures for
19 resolution of disputed property insurance
20 claims; amending s. 627.901, F.S.; revising the
21 limits on premium financing service charges;
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