Florida Senate - 2011                          SENATOR AMENDMENT
       Bill No. CS/CS/CS/SB 408, 2nd Eng.
                                Barcode 506544                          
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                 Floor: WD/RM          .                                
             05/05/2011 06:46 PM       .                                

       Senator Fasano moved the following:
    1         Senate Amendment to Amendment (844961) (with title
    2  amendment)
    4         Delete lines 3049 - 3088
    5  and insert:
    6         (a)(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
   29  policyholder;
   30         2. The claim is involved with the neutral evaluation
   31  process;
   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