Florida Senate - 2011 COMMITTEE AMENDMENT
Bill No. CS for SB 1252
Senate . House
Comm: RCS .
The Committee on Rules (Smith) recommended the following:
1 Senate Amendment (with title amendment)
3 Between lines 669 and 670
5 Section 12. Subsections (4) and (7) of section 627.7295,
6 Florida Statutes, are amended to read:
7 627.7295 Motor vehicle insurance contracts.—
8 (4) If subsection (7) does not apply, the insurer may
9 cancel the policy in accordance with this code except that,
10 notwithstanding s. 627.728, an insurer may not cancel a new
11 policy or binder during the first 60 days immediately following
12 the effective date of the policy or binder for nonpayment of
13 premium unless the reason for the cancellation is the issuance
14 of a check for the premium that is dishonored for any reason.
15 (7) Before the effective date of a binder or policy, a
16 policy of private passenger motor vehicle insurance or a binder
17 for such a policy may be initially issued in this state only if
18 the insurer or agent has collected from the insured an amount
19 equal to 2 months’ premium. An insurer, agent, or premium
20 finance company may not, directly or indirectly, take any action
21 resulting in the insured having paid from the insured’s own
22 funds an amount less than the 2 months’ premium required by this
23 subsection. This subsection applies without regard to whether
24 the premium is financed by a premium finance company or
25 pursuant to a periodic payment plan of an insurer or an
26 insurance agent.
27 (a) This subsection does not apply if an insured or member
28 of the insured’s family is renewing or replacing a policy or a
29 binder for such policy written by the same insurer or a member
30 of the same insurer group.
31 (b) This subsection does not apply to an insurer that
32 issues private passenger motor vehicle coverage primarily to
33 active duty or former military personnel or their dependents.
34 (c) This subsection does not apply if all policy payments
35 are paid pursuant to a payroll deduction plan or an automatic
36 electronic funds transfer payment plan from the policyholder ,
37 provided that the first policy payment is made by cash,
38 cashier’s check, check, or a money order.
39 (d) This subsection and subsection (4) do not apply if all
40 policy payments to an insurer are paid pursuant to an automatic
41 electronic funds transfer payment plan from an agent, a managing
42 general agent, or a premium finance company and if the policy
43 includes, at a minimum, personal injury protection pursuant to
44 ss. 627.730-627.7407 627.730 - 627.7405; motor vehicle property
45 damage liability pursuant to s. 627.7275; and bodily injury
46 liability in at least the amount of $10,000 because of bodily
47 injury to, or death of, one person in any one accident and in
48 the amount of $20,000 because of bodily injury to, or death of,
49 two or more persons in any one accident.
50 (e) This subsection and subsection (4) do not apply if an
51 insured has had a policy in effect for at least 6 months, the
52 insured’s agent is terminated by the insurer that issued the
53 policy, and the insured obtains coverage on the policy’s renewal
54 date with a new company through the terminated agent.
56 Delete lines 720 - 721
57 and insert:
59 of this state.
62 ================= T I T L E A M E N D M E N T ================
63 And the title is amended as follows:
64 Delete line 49
65 and insert:
66 insurance coverage; amending s. 627.7295, F.S.;
67 providing that a binder or policy for motor vehicle
68 insurance is not effective until a certain amount of
69 the premium is paid; creating s. 634.1711, F.S.;