Florida Senate - 2007 SENATOR AMENDMENT
Bill No. CS for SB 1866
Barcode 612906
CHAMBER ACTION
Senate House
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05/02/2007 12:47 PM .
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11 Senator Posey moved the following amendment:
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13 Senate Amendment (with title amendment)
14 On page 20, between lines 2 and 3,
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17 Section 5. Subsection (2) of section 626.9201, Florida
18 Statutes, is amended to read:
19 626.9201 Notice of cancellation or nonrenewal.--
20 (2) An insurer issuing a policy providing coverage for
21 property, casualty, surety, or marine insurance shall give the
22 named insured written notice of cancellation or termination
23 other than nonrenewal at least 45 days prior to the effective
24 date of the cancellation or termination, including in the
25 written notice the reason or reasons for the cancellation or
26 termination, except that:
27 (a) When cancellation is for nonpayment of premium, at
28 least 10 days' written notice of cancellation accompanied by
29 the reason therefor shall be given. As used in this paragraph,
30 the term "nonpayment of premium" means failure of the named
31 insured to discharge when due any of his or her obligations in
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Florida Senate - 2007 SENATOR AMENDMENT
Bill No. CS for SB 1866
Barcode 612906
1 connection with the payment of premiums on a policy or any
2 installment of such premium, whether the premium is payable
3 directly to the insurer or its agent or indirectly under any
4 premium finance plan or extension of credit, or failure to
5 maintain membership in an organization if such membership is a
6 condition precedent to insurance coverage. The term
7 "nonpayment of premium" also means the failure of a financial
8 institution to honor an insurance applicant's check after
9 delivery to a licensed agent for payment of a premium, even if
10 the agent has previously delivered or transferred the premium
11 to the insurer. If a correctly dishonored check represents the
12 initial premium payment, the contract and all contractual
13 obligations shall be void ab initio unless the nonpayment is
14 cured within the earlier of 5 days after actual notice by
15 certified mail is received by the applicant or 15 days after
16 notice is sent to the applicant by certified mail or
17 registered mail, and, if the contract is void, any premium
18 received by the insurer from a third party shall be refunded
19 to that party in full; and
20 (b) When such cancellation or termination occurs
21 during the first 90 days during which the insurance is in
22 force and the insurance is canceled or terminated for reasons
23 other than nonpayment, at least 20 days' written notice of
24 cancellation or termination accompanied by the reason therefor
25 shall be given except where there has been a material
26 misstatement or misrepresentation or failure to comply with
27 the underwriting requirements established by the insurer.
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29 (Redesignate subsequent sections.)
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Florida Senate - 2007 SENATOR AMENDMENT
Bill No. CS for SB 1866
Barcode 612906
1 ================ T I T L E A M E N D M E N T ===============
2 And the title is amended as follows:
3 On page 1, line 22, after the semicolon,
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5 insert:
6 amending s. 626.9201, F.S.; defining the term
7 "nonpayment of premium"; providing additional
8 criterion for cancellation for nonpayment of
9 premium;
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