Florida Senate - 2011 SENATOR AMENDMENT
Bill No. CS/CS/CS/SB 408, 2nd Eng.
Senate . House
Floor: WD/RM .
05/05/2011 06:46 PM .
Senator Fasano moved the following:
1 Senate Amendment to Amendment (844961) (with title
4 Delete lines 3049 - 3088
5 and insert:
(b) The insurer may limit its payment to the actual cash
7 value of the sinkhole loss, which does not include including
8 underpinning or grouting or any other repair technique performed
9 below the existing foundation of the building, until the
10 policyholder enters into a contract for the performance of
11 building stabilization or foundation repairs.
12 (b) After the policyholder enters into the contract, the
13 insurer shall pay the amounts necessary to begin and perform
14 such repairs as the work is performed and the expenses are
15 incurred. The insurer may not require the policyholder to
16 advance payment for such repairs. If repair covered by a
17 personal lines residential property insurance policy has begun
18 and the professional engineer selected or approved by the
19 insurer determines that the repair cannot be completed within
20 the policy limits, the insurer must either complete the
21 professional engineer’s recommended repair or tender the policy
22 limits to the policyholder without a reduction for the repair
23 expenses incurred.
24 (c) The stabilization and all other repairs to the
25 structure and contents must be completed within 12 months after
26 entering into the contract for repairs described in paragraph
27 (b) unless:
28 1. There is a mutual agreement between the insurer and the
30 2. The claim is involved with the neutral evaluation
32 3. The claim is in litigation; or
33 4. The claim is under appraisal or mediation.
34 (d) (c) Upon the insurer’s obtaining the written approval
36 ================= T I T L E A M E N D M E N T ================
37 And the title is amended as follows:
38 Delete lines 3693 - 3694
39 and insert:
40 sinkhole testing by a policyholder; requiring all
41 repairs to be