Florida Senate - 2018                        COMMITTEE AMENDMENT
       Bill No. SB 1168
                              LEGISLATIVE ACTION                        
                    Senate             .             House              

       The Committee on Banking and Insurance (Steube) recommended the
    1         Senate Amendment (with title amendment)
    3         Between lines 103 and 104
    4  insert:
    5         Section 4. Paragraph (a) of subsection (3) of section
    6  627.7011, Florida Statutes, is amended to read:
    7         627.7011 Homeowners’ policies; offer of replacement cost
    8  coverage and law and ordinance coverage.—
    9         (3) In the event of a loss for which a dwelling or personal
   10  property is insured on the basis of replacement costs:
   11         (a) For a dwelling:,
   12         1. The insurer must initially pay at least the actual cash
   13  value of the insured loss, less any applicable deductible. The
   14  insurer shall pay any remaining amounts necessary to perform
   15  such repairs as work is performed and expenses are incurred. If
   16  a total loss of a dwelling occurs, the insurer shall pay the
   17  replacement cost coverage without reservation or holdback of any
   18  depreciation in value, pursuant to s. 627.702.
   19         2. The insurer may not require that a particular vendor
   20  make repairs to such dwelling.
   21         3. The insurer may not, unless expressly requested by the
   22  insured, recommend or suggest a particular vendor for repairs to
   23  be made to such dwelling.
   25  ================= T I T L E  A M E N D M E N T ================
   26  And the title is amended as follows:
   27         Delete line 14
   28  and insert:
   29         assignment of post-loss benefits; amending s.
   30         627.7011, F.S.; prohibiting specified acts by insurers
   31         relating to certain losses under homeowners’ insurance
   32         policies; creating s.