| 1 | Representative Patterson offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove lines 45-69 and insert: |
| 5 | Section 3. Section 626.9371, Florida Statutes, is created |
| 6 | to read: |
| 7 | 626.9371 Payment of premiums and claims.-- |
| 8 | (1) The premiums for surplus lines insurance contracts |
| 9 | issued on or after October 1, 2009, in this state or covering |
| 10 | risks located in this state shall be paid in cash consisting of |
| 11 | coins, currency, checks, or money orders or by using a debit |
| 12 | card, credit card, automatic electronic funds transfer, or |
| 13 | payroll deduction plan. |
| 14 | (2) All payments of claims made in this state under any |
| 15 | contract of surplus lines insurance issued on or after October |
| 16 | 1, 2009, shall be made: |
| 17 | (a) In cash consisting of coins, currency, checks, drafts, |
| 18 | or money orders and, if made by check or draft, shall be in such |
| 19 | form as will comply with the standards for cash items adopted by |
| 20 | the Federal Reserve System to facilitate the sorting, routing, |
| 21 | and mechanized processing of such items; or |
| 22 | (b) By debit card or any other form of electronic transfer |
| 23 | if authorized in writing by the recipient or the recipient's |
| 24 | representative. Any fees or costs to be charged against the |
| 25 | recipient must be disclosed in writing to the recipient or the |
| 26 | recipient's representative at the time of written authorization. |
| 27 | However, the written authorization requirement may be waived by |
| 28 | the recipient or the recipient's representative if the insurer |
| 29 | verifies the identity of the insured or the insured's recipient |
| 30 | and does not charge a fee for the transaction. If the funds are |
| 31 | misdirected, the insurer remains liable for the payment of the |
| 32 | claim. |
| 33 | Section 4. Section 626.9372, Florida Statutes, is created |
| 34 | to read: |
| 35 | 626.9372 Disclosure statement of certain information |
| 36 | required-liability claims.-- |
| 37 | (1) Each insurer that provides or may provide liability |
| 38 | insurance coverage to pay all or a portion of any claim that |
| 39 | might be made under surplus lines policies issued on or after |
| 40 | October 1, 2009, shall provide, within 60 days after the written |
| 41 | request of the claimant, a statement of a corporate officer or |
| 42 | the insurer's claims manager or superintendent setting forth the |
| 43 | following information with regard to each known policy of |
| 44 | insurance, including excess or umbrella insurance: |
| 45 | (a) The name of the insurer. |
| 46 | (b) The name of each insured. |
| 47 | (c) The limits of the liability coverage. |
| 48 | (d) A statement of any policy or coverage defense that |
| 49 | such insurer reasonably believes is available to such insurer at |
| 50 | the time of filing such statement. |
| 51 | (e) A copy of the policy. |
| 52 |
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| 53 | In addition, the insured, or her or his insurance agent, upon |
| 54 | written request of the claimant or the claimant's attorney, |
| 55 | shall disclose the name and coverage of each known insurer to |
| 56 | the claimant and forward such request for information as |
| 57 | required by this subsection to all affected insurers. The |
| 58 | insurer shall supply the information required in this subsection |
| 59 | to the claimant within 60 days after receipt of such request. |
| 60 | (2) The statement required by subsection (1) must be |
| 61 | amended within 60 days after the date of discovery of facts |
| 62 | necessitating an amendment to such statement. |
| 63 | Section 5. Section 626.9373, Florida Statutes, is created |
| 64 | to read: |
| 65 | 626.9373 Attorney's fees.-- |
| 66 | (1) Upon the rendition of a judgment or decree by any |
| 67 | court of this state against a surplus lines insurer in favor of |
| 68 | any named or omnibus insured or the named beneficiary under a |
| 69 | policy or contract executed by the insurer on or after the |
| 70 | effective date of this act, the trial court or, if the insured |
| 71 | or beneficiary prevails on appeal, the appellate court, shall |
| 72 | adjudge or decree against the insurer in favor of the insured or |
| 73 | beneficiary a reasonable sum as fees or compensation for the |
| 74 | insured's or beneficiary's attorney prosecuting the lawsuit for |
| 75 | which recovery is awarded. |
| 76 | (2) If awarded, attorney's fees or compensation shall be |
| 77 | included in the judgment or decree rendered in the case. |
| 78 | Section 6. Section 626.9374, Florida Statutes, is created |
| 79 | to read: |
| 80 | 626.9374 Liability of insureds; deductible and |
| 81 | coinsurance.-- |
| 82 | (1) Any surplus lines, personal lines residential property |
| 83 | insurance policy issued on or after October 1, 2009, containing |
| 84 | a separate hurricane or wind deductible must on its face include |
| 85 | in at least 14-point, boldface type the following statement: |
| 86 | THIS POLICY CONTAINS A SEPARATE DEDUCTIBLE FOR HURRICANE OR WIND |
| 87 | LOSSES, WHICH MAY RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU. |
| 88 | (2) A surplus lines, personal lines residential property |
| 89 | insurance policy issued on or after October 1, 2009, containing |
| 90 | a coinsurance provision applicable to hurricane or wind losses |
| 91 | must on its face include in at least 14-point, boldface type the |
| 92 | following statement: THIS POLICY CONTAINS A CO-PAY PROVISION |
| 93 | THAT MAY RESULT IN HIGH OUT-OF-POCKET EXPENSES TO YOU. |
| 94 | Section 7. The amendments to s. 626.913, Florida Statutes, |
| 95 | in this act are remedial in nature and operate retroactively to |
| 96 | the regulation of surplus lines insurers from October 1, 1988, |
| 97 | except with respect to lawsuits that are filed on or before May |
| 98 | 15, 2009. |
| 99 | Section 8. If any provision of this act or the application |
| 100 | thereof to any person or circumstance is held invalid, the |
| 101 | invalidity shall not affect other provisions or applications of |
| 102 | the act which can be given effect without the invalid provision |
| 103 | or application, and to this end the provisions of this act are |
| 104 | declared severable. |
| 105 | Section 9. This act shall take effect upon becoming a law. |
| 106 |
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| 107 |
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| 108 | ----------------------------------------------------- |
| 109 | T I T L E A M E N D M E N T |
| 110 | Remove lines 8-13 and insert: |
| 111 | creating s. 626.9371, F.S.; providing methods of payment for |
| 112 | premiums and claims regarding surplus lines contracts issued on |
| 113 | or after a specified date; requiring a written authorization to |
| 114 | complete payment under certain circumstances; providing for |
| 115 | waiver of such requirement; providing that an insurer remains |
| 116 | liable for payment of a claim if corresponding funds are |
| 117 | misdirected; creating s. 626.9372, F.S.; requiring that certain |
| 118 | insurers provide a disclosure statement to a claimant under |
| 119 | certain circumstances; requiring that such statement include |
| 120 | certain information; requiring that an insurer disclose certain |
| 121 | additional information upon the request of a claimant; requiring |
| 122 | the amendment of such statement under certain circumstances; |
| 123 | creating s. 626.9373, F.S.; providing for the payment of |
| 124 | attorney's fees in cases involving surplus lines insurers at the |
| 125 | trial and appellate levels; amending s. 626.9374, F.S.; |
| 126 | requiring that a surplus lines policy containing a separate |
| 127 | hurricane or wind deductible issued on or after a specified date |
| 128 | have a specified statement printed on the face of the policy; |
| 129 | requiring that a surplus lines policy containing a coinsurance |
| 130 | provision applicable to hurricane or wind losses issued on or |
| 131 | after a specified date have a specified statement printed on the |
| 132 | face of the policy; providing for the retroactive applicability |
| 133 | of certain provisions; providing severability; providing |