| 1 | Representative Berfield offered the following: |
| 2 |
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| 3 | Amendment to Amendment (467323) (with title amendment) |
| 4 | Between lines 298 and 299, insert: |
| 5 | Section 26. Subsections (1) and (2) of section 627.0629, |
| 6 | Florida Statutes, are amended to read: |
| 7 | 627.0629 Residential property insurance; rate filings.-- |
| 8 | (1) Effective June 1, 2002, a rate filing for residential |
| 9 | property insurance must include actuarially reasonable |
| 10 | discounts, credits, or other rate differentials, or appropriate |
| 11 | reductions in deductibles, for properties on which fixtures or |
| 12 | construction techniques demonstrated to reduce the amount of |
| 13 | loss in a windstorm have been installed or implemented. The |
| 14 | fixtures or construction techniques shall include, but not be |
| 15 | limited to, fixtures or construction techniques which enhance |
| 16 | roof strength, roof covering performance, roof-to-wall strength, |
| 17 | wall-to-floor-to-foundation strength, opening protection, and |
| 18 | window, door, and skylight strength. Credits, discounts, or |
| 19 | other rate differentials for fixtures and construction |
| 20 | techniques which meet the minimum requirements of the Florida |
| 21 | Building Code must be included in the rate filing. All insurance |
| 22 | companies must make a rate filing which includes the credits, |
| 23 | discounts, or other rate differentials by February 28, 2003. |
| 24 | This subsection does not apply to an insurer if the insurer's |
| 25 | average annual premium for all of its policies issued providing |
| 26 | windstorm coverage is $100 or less. The office may adjust the |
| 27 | amount of annual premium qualifying for this exemption for |
| 28 | inflation at appropriate intervals. |
| 29 | (2)(a) A rate filing for residential property insurance |
| 30 | made on or before the implementation of paragraph (b) may |
| 31 | include rate factors that reflect the manner in which building |
| 32 | code enforcement in a particular jurisdiction addresses the risk |
| 33 | of wind damage; however, such a rate filing must also provide |
| 34 | for variations from such rate factors on an individual basis |
| 35 | based on an inspection of a particular structure by a licensed |
| 36 | home inspector, which inspection may be at the cost of the |
| 37 | insured. |
| 38 | (b) A rate filing for residential property insurance made |
| 39 | more than 150 days after approval by the office of a building |
| 40 | code rating factor plan submitted by a statewide rating |
| 41 | organization shall include positive and negative rate factors |
| 42 | that reflect the manner in which building code enforcement in a |
| 43 | particular jurisdiction addresses risk of wind damage. The rate |
| 44 | filing shall include variations from standard rate factors on an |
| 45 | individual basis based on inspection of a particular structure |
| 46 | by a licensed home inspector. If an inspection is requested by |
| 47 | the insured, the insurer may require the insured to pay the |
| 48 | reasonable cost of the inspection. This paragraph applies to |
| 49 | structures constructed or renovated after the implementation of |
| 50 | this paragraph. |
| 51 | (c) The premium notice shall specify the amount by which |
| 52 | the rate has been adjusted as a result of this subsection and |
| 53 | shall also specify the maximum possible positive and negative |
| 54 | adjustments that are approved for use by the insurer under this |
| 55 | subsection. |
| 56 | (d) This subsection does not apply to an insurer if the |
| 57 | insurer's average annual premium for all of its policies issued |
| 58 | providing windstorm coverage is $100 or less. The office may |
| 59 | adjust the amount of annual premium qualifying for this |
| 60 | exemption for inflation at appropriate intervals. |
| 61 |
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| 62 | ================ T I T L E A M E N D M E N T ============= |
| 63 | Remove line(s) 748, and insert: |
| 64 | Personal lines agents; amending s. 627.0629, F.S.; specifying |
| 65 | nonapplication to certain insurers under certain circumstances; |
| 66 | authorizing the office to adjust certain premium under certain |
| 67 | circumstances; amending s. 627.0915, F.S.; providing for |