Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 420
       
       
       
       
       
       
                                Ì909524/Î909524                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/19/2017           .                                
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       The Committee on Rules (Brandes) recommended the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 173 - 186
    4  and insert:
    5         (8)(a) When procuring a private flood insurance policy from
    6  an authorized insurer or a surplus lines insurer for a property
    7  currently insured under the National Flood Insurance Program, an
    8  agent must, at the time of expiration of the current policy,
    9  provide a written notice to be signed by the applicant,
   10  informing the applicant of the conditions under which the
   11  National Flood Insurance Program will apply:
   12         1. The full risk rate to the property if flood insurance is
   13  later obtained under the National Flood Insurance Program; or
   14         2. A subsidized rate to the property if flood insurance is
   15  later obtained under the National Flood Insurance Program.
   16         (b) The private flood insurance policy must be canceled and
   17  the National Flood Insurance Program policy renewed unless the
   18  agent receives the signed notice from the applicant within the
   19  earlier of:
   20         1. Twenty-one days after expiration of the policy under the
   21  National Flood Insurance Program; or
   22         2. Seven days before the expiration of any timeframe during
   23  which the applicant may return to the National Flood Insurance
   24  Program under a subsidized rate.
   25         (c) Paragraphs (a) and (b) do not apply if the National
   26  Flood Insurance Program allows the subsidized rate to apply at
   27  any time a previous policyholder returns An agent must, upon
   28  receiving an application for
   29  
   30  ================= T I T L E  A M E N D M E N T ================
   31  And the title is amended as follows:
   32         Delete lines 25 - 26
   33  and insert:
   34         National Flood Insurance Program; providing
   35         applicability; providing an