Florida Senate - 2018                        COMMITTEE AMENDMENT
       Bill No. SB 1282
       
       
       
       
       
       
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                              LEGISLATIVE ACTION                        
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       The Committee on Banking and Insurance (Taddeo) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 16 - 42
    4  and insert:
    5         (4) Upon the initial issuance and each renewal of a
    6  homeowner’s insurance policy, the insurer shall must include
    7  with the policy documents, in bold type no smaller than 18
    8  points, the following statement:
    9  
   10         “LAW AND ORDINANCE: LAW AND ORDINANCE COVERAGE IS AN
   11         IMPORTANT COVERAGE THAT YOU MAY WISH TO PURCHASE.
   12         PLEASE DISCUSS WITH YOUR INSURANCE AGENT.”
   13  
   14         “FLOOD INSURANCE: YOU MAY ALSO NEED TO CONSIDER THE
   15         PURCHASE OF FLOOD INSURANCE FROM THE NATIONAL FLOOD
   16         INSURANCE PROGRAM OR AN AUTHORIZED INSURER. YOUR
   17         HOMEOWNER’S INSURANCE POLICY DOES NOT INCLUDE COVERAGE
   18         FOR DAMAGE RESULTING FROM FLOOD, EVEN IF HURRICANE
   19         WINDS AND RAIN CAUSED THE FLOOD TO OCCUR. WITHOUT
   20         SEPARATE FLOOD INSURANCE THIS COVERAGE, YOU MAY HAVE
   21         UNCOVERED LOSSES CAUSED BY FLOOD. PLEASE DISCUSS THE
   22         NEED TO PURCHASE SEPARATE FLOOD INSURANCE COVERAGE
   23         THESE COVERAGES WITH YOUR INSURANCE AGENT.”
   24  
   25  The intent of this subsection is to encourage policyholders to
   26  purchase sufficient coverage to protect them in case events
   27  excluded from the standard homeowners policy, such as law and
   28  ordinance enforcement and flood, combine with covered events to
   29  produce damage or loss to the insured property. The intent is
   30  also to encourage policyholders to discuss these issues with
   31  their insurance agent.
   32         Section 2. The amendment made by this act to s. 627.7011,
   33  Florida Statutes, applies to policies issued or renewed on or
   34  after July 1, 2019.
   35         Section 3. This act shall take effect July 1, 2019.
   36  
   37  ================= T I T L E  A M E N D M E N T ================
   38  And the title is amended as follows:
   39         Delete lines 5 - 7
   40  and insert:
   41         absence of law and ordinance and flood insurance
   42         coverage; requiring insurers issuing such policies to
   43         include the disclosure with the policy documents upon
   44         the initial issuance of the policy and each renewal;
   45         providing applicability; providing an