Florida Senate - 2009                          SENATOR AMENDMENT
       Bill No. CS for SB 2036
       
       
       
       
       
       
                                Barcode 804398                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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               Floor: 10/AD/2R         .                                
             04/30/2009 05:03 PM       .                                
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       Senator Bennett moved the following:
       
    1         Senate Amendment 
    2  
    3         Delete lines 83 - 102
    4  and insert:
    5         at such rate of a policy originally issued before the
    6  effective date of this section, the applicant or insured must:
    7         1. Be given a quote for a policy from Citizens Property
    8  Insurance Corporation, or for a fully rate-regulated policy from
    9  an admitted insurer willing to insure the risk, reflecting
   10  substantially similar coverages, limits, and deductibles to the
   11  extent available.
   12         2. Sign the following acknowledgement form, which must be
   13  retained by the insurer or agent for at least 3 years. If the
   14  acknowledgement form is signed by the insured, it is presumed
   15  that the insured has been informed and understands the form:
   16  
   17                           ACKNOWLEDGEMENT                         
   18         1. I HAVE REVIEWED THE REQUIRED DISCLOSURES AND THE
   19  REQUIRED PREMIUM COMPARISON.
   20         2. I UNDERSTAND THAT THE RATE FOR THIS RESIDENTIAL PROPERTY
   21  INSURANCE POLICY IS NOT REGULATED BY THE FLORIDA OFFICE OF
   22  INSURANCE REGULATION AND MAY BE HIGHER THAN RATES APPROVED BY
   23  THAT OFFICE.
   24         3. I UNDERSTAND THAT A RESIDENTIAL PROPERTY INSURANCE
   25  POLICY SUBJECT TO FULL RATE REGULATION REQUIREMENTS MAY BE
   26  AVAILABLE FROM ANOTHER INSURER OR CITIZENS PROPERTY INSURANCE
   27  CORPORATION.
   28         4. I UNDERSTAND THAT THE FLORIDA OFFICE OF INSURANCE
   29  REGULATION’S WEBSITE, WWW.SHOPANDCOMPARERATES.COM, CONTAINS
   30  RESIDENTIAL PROPERTY INSURANCE RATE COMPARISON INFORMATION.
   31         5. I UNDERSTAND THAT SHOULD A HURRICANE CAUSE SEVERE DAMAGE
   32  IN FLORIDA, A POLICYHOLDER OF CITIZENS PROPERTY INSURANCE
   33  CORPORATION MAY BE REQUIRED TO PAY A HIGHER ASSESSMENT THAN THE
   34  ASSESSMENT OTHERWISE APPLICABLE TO THIS RESIDENTIAL PROPERTY
   35  INSURANCE POLICY.