Florida Senate - 2022                          SENATOR AMENDMENT
       Bill No. SB 2-A
       
       
       
       
       
       
                                Ì551146#Î551146                         
       
                              LEGISLATIVE ACTION                        
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       Senator Powell moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 2418 - 2421
    4  and insert:
    5         Section 14. Paragraph (c) is added to subsection (1) of
    6  section 627.7011, Florida Statutes, and paragraph (b) of
    7  subsection (4) of that section is amended, to read:
    8         627.7011 Homeowners’ policies; offer of replacement cost
    9  coverage and law and ordinance coverage.—
   10         (1) Prior to issuing a homeowner’s insurance policy, the
   11  insurer must offer each of the following:
   12         (c) If a homeowner’s insurance policy provides an option
   13  with limited coverage, a premium for such reduced coverage which
   14  includes a substantial, actuarially sound premium discount or
   15  credit for the impact of the reduced coverage.
   16  
   17  An insurer is not required to make the offers required by this
   18  subsection with respect to the issuance or renewal of a
   19  homeowner’s policy that contains the provisions specified in
   20  paragraph (b) for law and ordinance coverage limited to 25
   21  percent of the dwelling limit, except that the insurer must
   22  offer the law and ordinance coverage limited to 50 percent of
   23  the dwelling limit. This subsection does not prohibit the offer
   24  of a guaranteed replacement cost policy.
   25  
   26  ================= T I T L E  A M E N D M E N T ================
   27  And the title is amended as follows:
   28         Delete line 102
   29  and insert:
   30         policies; amending s. 627.7011, F.S.; requiring that
   31         insurers issuing homeowners’ policies with limited
   32         coverage options to offer a premium including a
   33         substantial, actuarially sound premium discount or
   34         credit for the impact of the reduced coverage;
   35         revising