Florida Senate - 2019 CS for SB 380 By the Committee on Banking and Insurance; and Senator Brandes 597-02480-19 2019380c1 1 A bill to be entitled 2 An act relating to homeowners’ insurance policy 3 disclosures; amending s. 627.7011, F.S.; revising 4 circumstances under which insurers issuing homeowners’ 5 insurance policies must include a specified statement 6 relating to flood insurance with the policy documents 7 at initial issuance and renewals; providing an 8 effective date. 9 10 Be It Enacted by the Legislature of the State of Florida: 11 12 Section 1. Subsection (4) of section 627.7011, Florida 13 Statutes, is amended to read: 14 627.7011 Homeowners’ policies; offer of replacement cost 15 coverage and law and ordinance coverage.— 16 (4)(a) An insurer that issues a homeowner’s insurance 17 policy must include with the policy documents at initial 18 issuance and every renewal, in bold type no smaller than 18 19 points, the following statement: 20 21 “LAW AND ORDINANCE: LAW AND ORDINANCE COVERAGE IS AN 22 IMPORTANT COVERAGE THAT YOU MAY WISH TO PURCHASE. 23 PLEASE DISCUSS WITH YOUR INSURANCE AGENT.” 24 25 (b) An insurer that issues a homeowner’s insurance policy 26 that does not provide flood insurance coverage must include with 27 the policy documents at initial issuance and every renewal, in 28 bold type no smaller than 18 points, the following statement: 29 30 “FLOOD INSURANCE: YOU MAY ALSO NEED TO CONSIDER THE 31 PURCHASE OF FLOOD INSURANCE. YOUR HOMEOWNER’S 32 INSURANCE POLICY DOES NOT INCLUDE COVERAGE FOR DAMAGE 33 RESULTING FROM FLOOD EVEN IF HURRICANE WINDS AND RAIN 34 CAUSED THE FLOOD TO OCCUR. WITHOUT SEPARATE FLOOD 35 INSURANCE COVERAGE, YOU MAY HAVE UNCOVERED LOSSES 36 CAUSED BY FLOOD. PLEASE DISCUSS THE NEED TO PURCHASE 37 SEPARATE FLOOD INSURANCE COVERAGE WITH YOUR INSURANCE 38 AGENT.” 39 40 (c) The intent of this subsection is to encourage 41 policyholders to purchase sufficient coverage to protect them in 42 case events excluded from the standard homeowners policy, such 43 as law and ordinance enforcement and flood, combine with covered 44 events to produce damage or loss to the insured property. The 45 intent is also to encourage policyholders to discuss these 46 issues with their insurance agent. 47 Section 2. This act shall take effect July 1, 2019.