Florida Senate - 2017                        COMMITTEE AMENDMENT
       Bill No. CS for CS for SB 420
       
       
       
       
       
       
                                Ì960142uÎ960142                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                   Comm: WD            .                                
                  04/19/2017           .                                
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       The Committee on Rules (Brandes) recommended the following:
       
    1         Senate Substitute for Amendment (909524) (with title
    2  amendment)
    3  
    4         Delete lines 173 - 186
    5  and insert:
    6         (8)(a) When procuring a private flood insurance policy from
    7  an authorized insurer or a surplus lines insurer for a property
    8  currently insured under the National Flood Insurance Program, an
    9  agent must, at the time of expiration of the current policy,
   10  provide a written notice to be signed by the applicant,
   11  informing the applicant of the conditions under which the
   12  National Flood Insurance Program will apply:
   13         1. The full risk rate to the property if flood insurance is
   14  later obtained under the National Flood Insurance Program; or
   15         2. A subsidized rate to the property if flood insurance is
   16  later obtained under the National Flood Insurance Program.
   17         (b) The agent must obtain the signed written notice from
   18  the applicant within the earlier of:
   19         1. Twenty-one days after expiration of the policy under the
   20  National Flood Insurance Program; or
   21         2. Seven days before the expiration of any timeframe during
   22  which the applicant may return to the National Flood Insurance
   23  Program under a subsidized rate.
   24         (c) Paragraphs (a) and (b) do not apply if the National
   25  Flood Insurance Program allows the subsidized rate to apply at
   26  any time a previous policyholder returns An agent must, upon
   27  receiving an application for
   28  
   29  ================= T I T L E  A M E N D M E N T ================
   30  And the title is amended as follows:
   31         Delete lines 25 - 26
   32  and insert:
   33         National Flood Insurance Program; providing
   34         applicability; providing an