Florida Senate - 2023                        COMMITTEE AMENDMENT
       Bill No. SB 1398
       
       
       
       
       
       
                                Ì533280ÄÎ533280                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  03/24/2023           .                                
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       The Committee on Banking and Insurance (DiCeglie) recommended
       the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete everything after the enacting clause
    4  and insert:
    5         Section 1. Present subsections (35) through (38) of section
    6  494.001, Florida Statutes, are redesignated as subsections (36)
    7  through (39), respectively, a new subsection (35) is added to
    8  that section, and subsection (3) of that section is amended, to
    9  read:
   10         494.001 Definitions.—As used in this chapter, the term:
   11         (3) “Branch office” means a location, other than a mortgage
   12  broker’s or mortgage lender’s principal place of business or
   13  remote location:
   14         (a) The address of which appears on business cards,
   15  stationery, or advertising used by the licensee in connection
   16  with business conducted under this chapter;
   17         (b) At which the licensee’s name, advertising or
   18  promotional materials, or signage suggests that mortgage loans
   19  are originated, negotiated, funded, or serviced; or
   20         (c) At which mortgage loans are originated, negotiated,
   21  funded, or serviced by a licensee.
   22         (35)“Remote location” means a location, other than a
   23  principal place of business or a branch office, at which a loan
   24  originator of a licensee may conduct business. A licensee may
   25  allow loan originators to work from remote locations if:
   26         (a)The licensee has written policies and procedures for
   27  supervision of loan originators working from remote locations.
   28         (b)Access to company platforms and customer information is
   29  in accordance with the licensee’s comprehensive written
   30  information security plan.
   31         (c)An in-person customer interaction does not occur at a
   32  loan originator’s residence unless such residence is a licensed
   33  location.
   34         (d)Physical records are not maintained at a remote
   35  location.
   36         (e)Customer interactions and conversations about consumers
   37  will be in compliance with federal and state information
   38  security requirements, including applicable provisions under the
   39  Gramm-Leach-Bliley Act and the Safeguards Rule established by
   40  the Federal Trade Commission, set forth at 16 C.F.R. part 314,
   41  as such requirements may be amended from time to time.
   42         (f)A loan originator working at a remote location accesses
   43  the company’s secure systems, including a cloud-based system,
   44  directly from any out-of-office device such as a laptop, phone,
   45  desktop computer, or tablet, through a virtual private network
   46  or comparable system that ensures secure connectivity and that
   47  requires passwords or other forms of authentication to access.
   48         (g)The licensee ensures that appropriate security updates,
   49  patches, or other alterations to the security of all devices
   50  used at remote locations are installed and maintained.
   51         (h)The licensee is able to remotely lock or erase company
   52  related contents of any device or otherwise remotely limit all
   53  access to a company’s secure systems.
   54         (i)The registry’s record of a loan originator who works
   55  from a remote location designates the principal place of
   56  business as the loan originator’s registered location, or the
   57  loan originator has elected a licensed branch office as a
   58  registered location.
   59         Section 2. Subsection (1) of section 494.0067, Florida
   60  Statutes, is amended to read:
   61         494.0067 Requirements of mortgage lenders.—
   62         (1) A mortgage lender that makes mortgage loans on real
   63  estate in this state shall transact business from a principal
   64  place of business, branch office, or remote location. Each
   65  principal place of business, and each branch office, and remote
   66  location shall be operated under the full charge, control, and
   67  supervision of the licensee pursuant to this part.
   68         Section 3. Section 501.2042, Florida Statutes, is created
   69  to read:
   70         501.2042Unlawful acts and practices by online crowd
   71  funding campaigns.—
   72         (1)As used in this section, the term:
   73         (a)“Crowd-funding campaign” means an online fundraising
   74  initiative that is intended to receive monetary donations from
   75  donors and is created by an organizer in the interest of a
   76  beneficiary.
   77         (b)“Crowd-funding platform” means an entity doing business
   78  in this state which provides an online medium for the creation
   79  and facilitation of a crowd-funding campaign.
   80         (c)“Disaster” means any natural, technological, or civil
   81  emergency that occurs in this state and that causes damage of
   82  sufficient severity and magnitude to result in a declaration of
   83  a state of emergency by a county, the Governor, or the President
   84  of the United States.
   85         (d)“Organizer” means a person who:
   86         1.Resides or is domiciled in this state; and
   87         2.Has an account on a crowd-funding platform and has
   88  created a crowd-funding campaign either as a beneficiary or on
   89  behalf of a beneficiary, regardless of whether the beneficiary
   90  or the crowd-funding campaign has received donations.
   91         (2)When an organizer arranges a crowd-funding campaign
   92  related to a disaster, the organizer must produce to the crowd
   93  funding platform a complete and accurate accounting of all
   94  donations received and expended by the crowd-funding campaign.
   95  The crowd-funding platform must publish all received accountings
   96  on its website.
   97         Section 4. Section 520.23, Florida Statutes, is amended to
   98  read:
   99         520.23 Disclosures required.—Each agreement governing the
  100  sale or lease of a distributed energy generation system shall,
  101  at a minimum, include a written statement printed in at least
  102  12-point type that is separate from the agreement, is separately
  103  acknowledged by the buyer or lessee, and includes the following
  104  information and disclosures, if applicable:
  105         (1) The name, address, telephone number, and e-mail address
  106  of the buyer or lessee.
  107         (2) The name, address, telephone number, e-mail address,
  108  and valid state contractor license number of the person
  109  responsible for installing the distributed energy generation
  110  system.
  111         (3) The name, address, telephone number, e-mail address,
  112  and valid state contractor license number of the distributed
  113  energy generation system maintenance provider, if different from
  114  the person responsible for installing the distributed energy
  115  generation system.
  116         (4)The customer contact center phone number for the
  117  Department of Business and Professional Regulation.
  118         (5)(4) A written statement indicating whether the
  119  distributed energy generation system is being purchased or
  120  leased.
  121         (a) If the distributed energy generation system will be
  122  leased, the written statement must include a disclosure in
  123  substantially the following form: “You are entering into an
  124  agreement to lease a distributed energy generation system. You
  125  will lease (not own) the system installed on your property.”
  126         (b) If the distributed energy generation system will be
  127  purchased, the written statement must include a disclosure in
  128  substantially the following form: “You are entering into an
  129  agreement to purchase a distributed energy generation system.
  130  You will own (not lease) the system installed on your property.”
  131         (6)(5) The total cost to be paid by the buyer or lessee,
  132  including any interest, installation fees, document preparation
  133  fees, service fees, or other fees.
  134         (7)(6) A payment schedule, including any amounts owed at
  135  contract signing, at the commencement of installation, at the
  136  completion of installation, and any final payments. If the
  137  distributed energy generation system is being leased, the
  138  written statement must include the frequency and amount of each
  139  payment due under the lease and the total estimated lease
  140  payments over the term of the lease.
  141         (8)(7) Each state or federal tax incentive or rebate, if
  142  any, relied upon by the seller in determining the price of the
  143  distributed energy generation system.
  144         (9)(8) A description of the assumptions used to calculate
  145  any savings estimates provided to the buyer or lessee, and if
  146  such estimates are provided, a statement in substantially the
  147  following form: “It is important to understand that future
  148  electric utility rates are estimates only. Your future electric
  149  utility rates may vary.”
  150         (10)(9) A description of any one-time or recurring fees,
  151  including, but not limited to, estimated system removal fees,
  152  maintenance fees, Internet connection fees, and automated
  153  clearinghouse fees. If late fees may apply, the description must
  154  describe the circumstances triggering such late fees.
  155         (11)(10) A statement notifying the buyer whether the
  156  distributed energy generation system is being financed and, if
  157  so, a statement in substantially the following form: “If your
  158  system is financed, carefully read any agreements and/or
  159  disclosure forms provided by your lender. This statement does
  160  not contain the terms of your financing agreement. If you have
  161  any questions about your financing agreement, contact your
  162  finance provider before signing a contract.”
  163         (12)(11) A statement notifying the buyer whether the seller
  164  is assisting in arranging financing of the distributed energy
  165  generation system and, if so, a statement in substantially the
  166  following form: “If your system is financed, carefully read any
  167  agreements and/or disclosure forms provided by your lender. This
  168  statement does not contain the terms of your financing
  169  agreement. If you have any questions about your financing
  170  agreement, contact your finance provider before signing a
  171  contract.”
  172         (13)(12) A provision notifying the buyer or lessee of the
  173  right to rescind the agreement for a period of at least 3
  174  business days after the agreement is signed. This subsection
  175  does not apply to a contract to sell or lease a distributed
  176  energy generation system in a solar community in which the
  177  entire community has been marketed as a solar community and all
  178  of the homes in the community are intended to have a distributed
  179  energy generation system, or a solar community in which the
  180  developer has incorporated solar technology for purposes of
  181  meeting the Florida Building Code in s. 553.73.
  182         (14)(13) A description of the distributed energy generation
  183  system design assumptions, including the make and model of the
  184  major components, system size, estimated first-year energy
  185  production, and estimated annual energy production decreases,
  186  including the overall percentage degradation over the estimated
  187  life of the distributed energy generation system, and the status
  188  of utility compensation for excess energy generated by the
  189  system at the time of contract signing. A seller who provides a
  190  warranty or guarantee of the energy production output of the
  191  distributed energy generation system may provide a description
  192  of such warranty or guarantee in lieu of a description of the
  193  system design and components.
  194         (15)(14) A description of any performance or production
  195  guarantees.
  196         (16)(15) A description of the ownership and transferability
  197  of any tax credits, rebates, incentives, or renewable energy
  198  certificates associated with the distributed energy generation
  199  system, including a disclosure as to whether the seller will
  200  assign or sell any associated renewable energy certificates to a
  201  third party.
  202         (17)(16) A statement in substantially the following form:
  203  “You are responsible for property taxes on property you own.
  204  Consult a tax professional to understand any tax liability or
  205  eligibility for any tax credits that may result from the
  206  purchase of your distributed energy generation system.”
  207         (18)(17) The approximate start and completion dates for the
  208  installation of the distributed energy generation system.
  209         (19)(18) A disclosure as to whether maintenance and repairs
  210  of the distributed energy generation system are included in the
  211  purchase price.
  212         (20)(19) A disclosure as to whether any warranty or
  213  maintenance obligations related to the distributed energy
  214  generation system may be sold or transferred by the seller to a
  215  third party and, if so, a statement in substantially the
  216  following form: “Your contract may be assigned, sold, or
  217  transferred without your consent to a third party who will be
  218  bound to all the terms of the contract. If a transfer occurs,
  219  you will be notified if this will change the address or phone
  220  number to use for system maintenance or repair requests.”
  221         (21)(20) If the distributed energy generation system will
  222  be purchased, a disclosure notifying the buyer of the
  223  requirements for interconnecting the system to the utility
  224  system.
  225         (22)(21) A disclosure notifying the buyer or lessee of the
  226  party responsible for obtaining interconnection approval.
  227         (23)(22) A description of any roof warranties.
  228         (24)A statement in substantially the following form: “You
  229  should consider the age and remaining life of your roof prior to
  230  installing a distributed energy generation system. Replacement
  231  of your roof may require reinstallment of the distributed energy
  232  generation system.”
  233         (25)(23) A disclosure notifying the lessee whether the
  234  seller will insure a leased distributed energy generation system
  235  against damage or loss and, if applicable, the circumstances
  236  under which the seller will not insure the system against damage
  237  or loss.
  238         (26)(24) A statement, if applicable, in substantially the
  239  following form: “You are responsible for obtaining insurance
  240  policies or coverage for any loss of or damage to the system.
  241  Consult an insurance professional to understand how to protect
  242  against the risk of loss or damage to the system.”
  243         (27)A statement in substantially the following form:
  244  “Placing a distributed energy generation system on your roof may
  245  impact your future insurance premiums. You are responsible for
  246  contacting your insurance carrier, prior to entering into a
  247  purchase or lease agreement, to confirm whether your current
  248  policy or coverage will need to be modified upon installing the
  249  distributed energy generation system onto your dwelling.”
  250         (28)(25) A disclosure notifying the buyer or lessee whether
  251  the seller or lessor will place a lien on the buyer’s or
  252  lessee’s home or other property as a result of entering into a
  253  purchase or lease agreement for the distributed energy
  254  generation system.
  255         (29)(26) A disclosure notifying the buyer or lessee whether
  256  the seller or lessor will file a fixture filing or a State of
  257  Florida Uniform Commercial Code Financing Statement Form (UCC-1)
  258  on the distributed energy generation system.
  259         (30)(27) A disclosure identifying whether the agreement
  260  contains any restrictions on the buyer’s or lessee’s ability to
  261  modify or transfer ownership of a distributed energy generation
  262  system, including whether any modification or transfer is
  263  subject to review or approval by a third party.
  264         (31)(28) A disclosure as to whether the lease agreement may
  265  be transferred to a purchaser upon sale of the home or real
  266  property to which the system is affixed, and any conditions for
  267  such transfer.
  268         (32)(29) A blank section that allows the seller to provide
  269  additional relevant disclosures or explain disclosures made
  270  elsewhere in the disclosure form.
  271  
  272  The requirement to provide a written statement under this
  273  section may be satisfied by the electronic delivery of a
  274  document within 24 hours after execution of the written
  275  statement containing the required statement if the intended
  276  recipient of the electronic document affirmatively acknowledges
  277  its receipt. An electronic document satisfies the font and other
  278  formatting standards required for the written statement if the
  279  format and the relative size of characters of the electronic
  280  document are reasonably similar to those required in the written
  281  document or if the information is otherwise displayed in a
  282  reasonably conspicuous manner.
  283         Section 5. Subsection (6) of section 560.111, Florida
  284  Statutes, is amended to read:
  285         560.111 Prohibited acts.—
  286         (6) A person who knowingly and willfully violates s.
  287  560.309(11) or s. 560.310(2)(d) commits a felony of the third
  288  degree, punishable as provided in s. 775.082, s. 775.083, or s.
  289  775.084.
  290         Section 6. Subsection (11) is added to section 560.309,
  291  Florida Statutes, to read:
  292         560.309 Conduct of business.—
  293         (11) A licensee may not cash corporate checks where the
  294  aggregate face amount of all corporate checks cashed for each
  295  payee exceeds 200 percent of the payee’s workers’ compensation
  296  policy coverage amount during the same dates as the workers’
  297  compensation policy coverage period.
  298         Section 7. Section 626.551, Florida Statutes, is amended to
  299  read:
  300         626.551 Notice of change of address, name.—A licensee must
  301  notify the department, in writing, within 5 30 days after a
  302  change of name, residence address, principal business street
  303  address, mailing address, contact telephone numbers, including a
  304  business telephone number, or e-mail address. A licensee who has
  305  moved his or her principal place of residence and principal
  306  place of business from this state shall have his or her license
  307  and all appointments immediately terminated by the department.
  308  Failure to notify the department within the required time shall
  309  result in a fine not to exceed $250 for the first offense and a
  310  fine of at least $500 or suspension or revocation of the license
  311  pursuant to s. 626.611, s. 626.6115, s. 626.621, or s. 626.6215
  312  for a subsequent offense. The department may adopt rules to
  313  administer and enforce this section.
  314         Section 8. Section 626.602, Florida Statutes, is amended to
  315  read:
  316         626.602 Insurance agency and adjusting firm names;
  317  disapproval.—The department may disapprove the use of any true
  318  or fictitious name, other than the bona fide natural name of an
  319  individual, by any insurance agency or adjusting firm on any of
  320  the following grounds:
  321         (1) The name interferes with or is too similar to a name
  322  already filed and in use by another agency, adjusting firm, or
  323  insurer.
  324         (2)The use of the name may mislead the public in any
  325  respect.
  326         (3) The name states or implies that the agency or adjusting
  327  firm is an insurer, motor club, hospital service plan, state or
  328  federal agency, charitable organization, or entity that
  329  primarily provides advice and counsel rather than sells or
  330  solicits insurance, settles claims, or is entitled to engage in
  331  insurance activities not permitted under licenses held or
  332  applied for. This provision does not prohibit the use of the
  333  word “state” or “states” in the name of the agency. The use of
  334  the word “state” or “states” in the name of an agency or
  335  adjusting firm does not in and of itself imply that the agency
  336  or adjusting firm is a state agency.
  337         (4) The name contains the word “Medicare” or “Medicaid.” An
  338  insurance agency whose name contains the word “Medicare” or
  339  “Medicaid” but which is licensed as of July 1, 2021, may
  340  continue to use that name until June 30, 2023, provided that the
  341  agency’s license remains valid. If the agency’s license expires
  342  or is suspended or revoked, the agency may not be relicensed
  343  using that name. Licenses for agencies with names containing
  344  either of these words automatically expire on July 1, 2023,
  345  unless these words are removed from the name.
  346         Section 9. Section 626.854, Florida Statutes, is amended to
  347  read:
  348         626.854 “Public adjuster” defined; prohibitions.—The
  349  Legislature finds that it is necessary for the protection of the
  350  public to regulate public insurance adjusters and to prevent the
  351  unauthorized practice of law.
  352         (1) A “public adjuster” is any person, except a duly
  353  licensed attorney at law as exempted under s. 626.860, who, for
  354  money, commission, or any other thing of value, directly or
  355  indirectly prepares, completes, or files an insurance claim for
  356  an insured or third-party claimant, regardless of how that
  357  person describes or presents his or her services, or who, for
  358  money, commission, or any other thing of value, acts on behalf
  359  of, or aids an insured or third-party claimant in negotiating
  360  for or effecting the settlement of a claim or claims for loss or
  361  damage covered by an insurance contract, regardless of how that
  362  person describes or presents his or her services, or who
  363  advertises for employment as an adjuster of such claims. The
  364  term also includes any person who, for money, commission, or any
  365  other thing of value, directly or indirectly solicits,
  366  investigates, or adjusts such claims on behalf of a public
  367  adjuster, an insured, or a third-party claimant. The term does
  368  not include a person who photographs or inventories damaged
  369  personal property or business personal property or a person
  370  performing duties under another professional license, if such
  371  person does not otherwise solicit, adjust, investigate, or
  372  negotiate for or attempt to effect the settlement of a claim.
  373         (2) This definition does not apply to:
  374         (a) A licensed health care provider or employee thereof who
  375  prepares or files a health insurance claim form on behalf of a
  376  patient.
  377         (b) A licensed health insurance agent who assists an
  378  insured with coverage questions, medical procedure coding
  379  issues, balance billing issues, understanding the claims filing
  380  process, or filing a claim, as such assistance relates to
  381  coverage under a health insurance policy.
  382         (c) A person who files a health claim on behalf of another
  383  and does so without compensation.
  384         (3) A public adjuster may not give legal advice or act on
  385  behalf of or aid any person in negotiating or settling a claim
  386  relating to bodily injury, death, or noneconomic damages.
  387         (4) For purposes of this section, the term “insured”
  388  includes only the policyholder and any beneficiaries named or
  389  similarly identified in the policy.
  390         (5) A public adjuster may not directly or indirectly
  391  through any other person or entity solicit an insured or
  392  claimant by any means except on Monday through Saturday of each
  393  week and only between the hours of 8 a.m. and 8 p.m. on those
  394  days.
  395         (6)(a) When entering a contract for adjuster services after
  396  July 1, 2023, a public adjuster may not contract with anyone
  397  other than the named insured unless the named insured provides
  398  written consent, subsequent to entering a contract for public
  399  adjusting services.
  400         (b) If a public adjuster contracts with a third party in
  401  settling the named insured’s claim without first obtaining the
  402  insured’s written consent, payment of the third party’s fees
  403  must be made from the public adjuster’s fee.
  404         (7)(6) An insured or claimant may cancel a public
  405  adjuster’s contract to adjust a claim without penalty or
  406  obligation within 10 days after the date on which the contract
  407  is executed. If the contract was entered into based on events
  408  that are the subject of a declaration of a state of emergency by
  409  the Governor, an insured or claimant may cancel the public
  410  adjuster’s contract to adjust a claim without penalty or
  411  obligation within 30 days after the date of the event or 10 days
  412  after the date on which the contract is executed, whichever is
  413  longer. The public adjuster’s contract must contain the
  414  following language in minimum 18-point bold type immediately
  415  before the space reserved in the contract for the signature of
  416  the insured or claimant: “You, the insured, may cancel this
  417  contract for any reason without penalty or obligation to you
  418  within 10 days after the date of this contract. If this contract
  419  was entered into based on events that are the subject of a
  420  declaration of a state of emergency by the Governor, you may
  421  cancel this contract for any reason without penalty or
  422  obligation to you within 30 days after the date of the event or
  423  10 days after the date on which the contract is executed,
  424  whichever is longer. You may also cancel the contract without
  425  penalty or obligation to you if I, as your public adjuster, fail
  426  to provide you and your insurer a copy of a written estimate
  427  within 60 days of the execution of the contract in accordance
  428  with s. 626.854(14)(b), Florida Statutes.” The by providing
  429  notice of cancellation shall be provided to ...(name of public
  430  adjuster)..., submitted in writing and sent by certified mail,
  431  return receipt requested, or other form of mailing that provides
  432  proof thereof, at the address specified in the contract.
  433         (8)(7) It is an unfair and deceptive insurance trade
  434  practice pursuant to s. 626.9541 for a public adjuster or any
  435  other person to circulate or disseminate any advertisement,
  436  announcement, or statement containing any assertion,
  437  representation, or statement with respect to the business of
  438  insurance which is untrue, deceptive, or misleading.
  439         (a) The following statements, made in any public adjuster’s
  440  advertisement or solicitation, are considered deceptive or
  441  misleading:
  442         1. A statement or representation that invites an insured
  443  policyholder to submit a claim when the policyholder does not
  444  have covered damage to insured property.
  445         2. A statement or representation that invites an insured
  446  policyholder to submit a claim by offering monetary or other
  447  valuable inducement.
  448         3. A statement or representation that invites an insured
  449  policyholder to submit a claim by stating that there is “no
  450  risk” to the policyholder by submitting such claim.
  451         4. A statement or representation, or use of a logo or
  452  shield, that implies or could mistakenly be construed to imply
  453  that the solicitation was issued or distributed by a
  454  governmental agency or is sanctioned or endorsed by a
  455  governmental agency.
  456         (b) For purposes of this paragraph, the term “written
  457  advertisement” includes only newspapers, magazines, flyers, and
  458  bulk mailers. The following disclaimer, which is not required to
  459  be printed on standard size business cards, must be added in
  460  bold print and capital letters in typeface no smaller than the
  461  typeface of the body of the text to all written advertisements
  462  by a public adjuster:
  463  
  464         “THIS IS A SOLICITATION FOR BUSINESS. IF YOU HAVE HAD
  465         A CLAIM FOR AN INSURED PROPERTY LOSS OR DAMAGE AND YOU
  466         ARE SATISFIED WITH THE PAYMENT BY YOUR INSURER, YOU
  467         MAY DISREGARD THIS ADVERTISEMENT.”
  468  
  469         (9)(8) A public adjuster, a public adjuster apprentice, or
  470  any person or entity acting on behalf of a public adjuster or
  471  public adjuster apprentice may not give or offer to give a
  472  monetary loan or advance to a client or prospective client.
  473         (10)(9) A public adjuster, public adjuster apprentice, or
  474  any individual or entity acting on behalf of a public adjuster
  475  or public adjuster apprentice may not give or offer to give,
  476  directly or indirectly, any article of merchandise having a
  477  value in excess of $25 to any individual for the purpose of
  478  advertising or as an inducement to entering into a contract with
  479  a public adjuster.
  480         (11) If the insurer, not later than 14 days after the date
  481  on which the loss is reported to the insurer, either pays or
  482  commits in writing to pay to the insured the policy limit of the
  483  insurance policy, the public adjuster shall:
  484         (a) Inform the insured that, due to the insurer’s payment
  485  or commitment to pay the policy limit, the loss recovery amount
  486  might not be increased by the insurer.
  487         (b) Not receive a commission consisting of a percentage of
  488  the total amount of the timely paid or committed policy limits.
  489         (c) Be entitled only up to $1,000 from the insured for any
  490  time spent or expenses incurred on the claim by the public
  491  adjuster, until the claim is paid or the insured receives a
  492  written commitment to pay from the insurer.
  493         (12) Except as provided in paragraphs (11)(b) and (c), if
  494  the public adjuster enters into a contract with an insured or
  495  claimant after the insured or claimant unsuccessfully negotiates
  496  an insurance claim payment and the public adjuster is successful
  497  in obtaining a higher insurance claim payment, the public
  498  adjuster shall receive a commission consisting of 10 percent of
  499  the difference between the initial insurance claim payment offer
  500  made to the insured and the final insurance claim payment
  501  obtained through the work of the public adjuster after entering
  502  into the contract with the insured or claimant.
  503         (13)(a)(10)(a) If a public adjuster enters into a contract
  504  with an insured or claimant to reopen a claim or file a
  505  supplemental claim that seeks additional payments for a claim
  506  that has been previously paid in part or in full or settled by
  507  the insurer, the public adjuster may not charge, agree to, or
  508  accept from any source compensation, payment, commission, fee,
  509  or any other thing of value based on a previous settlement or
  510  previous claim payments by the insurer for the same cause of
  511  loss. The charge, compensation, payment, commission, fee, or any
  512  other thing of value must be based only on the claim payments or
  513  settlements paid to the insured, exclusive of attorney fees and
  514  costs, obtained through the work of the public adjuster after
  515  entering into the contract with the insured or claimant.
  516  Compensation for the reopened or supplemental claim may not
  517  exceed 20 percent of the reopened or supplemental claim payment.
  518  In no event shall the contracts described in this paragraph
  519  exceed the limitations in paragraph (b).
  520         (b) A public adjuster may not charge, agree to, or accept
  521  from any source compensation, payment, commission, fee, or any
  522  other thing of value in excess of:
  523         1. Ten percent of the amount of insurance claim payments or
  524  settlements, exclusive of attorney fees and costs, paid to the
  525  insured by the insurer for claims based on events that are the
  526  subject of a declaration of a state of emergency by the
  527  Governor. This provision applies to claims made during the year
  528  after the declaration of emergency. After that year, the
  529  limitations in subparagraph 2. apply.
  530         2. Twenty percent of the amount of insurance claim payments
  531  or settlements, exclusive of attorney fees and costs, paid to
  532  the insured by the insurer for claims that are not based on
  533  events that are the subject of a declaration of a state of
  534  emergency by the Governor.
  535         (c) Insurance claim payments made by the insurer do not
  536  include policy deductibles, and public adjuster compensation may
  537  not be based on the deductible portion of a claim.
  538         (d) Public adjuster compensation may not be based on
  539  amounts attributable to additional living expenses, unless such
  540  compensation is affirmatively agreed to in a separate agreement
  541  that includes a disclosure in substantially the following form:
  542  “I agree to retain and compensate the public adjuster for
  543  adjusting my additional living expenses and securing payment
  544  from my insurer for amounts attributable to additional living
  545  expenses payable under the policy issued on my (home/mobile
  546  home/condominium unit).”
  547         (e) Public adjuster rate of compensation may not be
  548  increased based solely on the fact that the claim is litigated.
  549         (f) Any maneuver, shift, or device through which the limits
  550  on compensation set forth in this subsection are exceeded is a
  551  violation of this chapter punishable as provided under s.
  552  626.8698.
  553         (14)(a)(11) Each public adjuster must provide to the
  554  claimant or insured a written estimate of the loss to assist in
  555  the submission of a proof of loss or any other claim for payment
  556  of insurance proceeds within 60 days after the date of the
  557  contract. The written estimate must include an itemized, per
  558  unit estimate of the repairs, including itemized information on
  559  equipment, materials, labor, and supplies, in accordance with
  560  accepted industry standards. The public adjuster shall retain
  561  such written estimate for at least 5 years and shall make the
  562  estimate available to the claimant or insured, the insurer, and
  563  the department upon request.
  564         (b) An insured may cancel the contract with no additional
  565  penalties or fees charged by the public adjuster if such an
  566  estimate is not provided within 60 days after executing the
  567  contract, subject to the cancellation notice requirement in this
  568  section.
  569         (15)(12) A public adjuster, public adjuster apprentice, or
  570  any person acting on behalf of a public adjuster or apprentice
  571  may not accept referrals of business from any person with whom
  572  the public adjuster conducts business if there is any form or
  573  manner of agreement to compensate the person, directly or
  574  indirectly, for referring business to the public adjuster. A
  575  public adjuster may not compensate any person, except for
  576  another public adjuster, directly or indirectly, for the
  577  principal purpose of referring business to the public adjuster.
  578         (16)(13) A company employee adjuster, independent adjuster,
  579  attorney, investigator, or other persons acting on behalf of an
  580  insurer that needs access to an insured or claimant or to the
  581  insured property that is the subject of a claim must provide at
  582  least 48 hours’ notice to the insured or claimant, public
  583  adjuster, or legal representative before scheduling a meeting
  584  with the claimant or an onsite inspection of the insured
  585  property. The insured or claimant may deny access to the
  586  property if the notice has not been provided. The insured or
  587  claimant may waive the 48-hour notice.
  588         (17)(14) The public adjuster must ensure that prompt notice
  589  is given of the claim to the insurer, the public adjuster’s
  590  contract is provided to the insurer, the property is available
  591  for inspection of the loss or damage by the insurer, and the
  592  insurer is given an opportunity to interview the insured
  593  directly about the loss and claim. The insurer must be allowed
  594  to obtain necessary information to investigate and respond to
  595  the claim.
  596         (a) The insurer may not exclude the public adjuster from
  597  its in-person meetings with the insured. The insurer shall meet
  598  or communicate with the public adjuster in an effort to reach
  599  agreement as to the scope of the covered loss under the
  600  insurance policy. The public adjuster shall meet or communicate
  601  with the insurer in an effort to reach agreement as to the scope
  602  of the covered loss under the insurance policy. This section
  603  does not impair the terms and conditions of the insurance policy
  604  in effect at the time the claim is filed.
  605         (b) A public adjuster may not restrict or prevent an
  606  insurer, company employee adjuster, independent adjuster,
  607  attorney, investigator, or other person acting on behalf of the
  608  insurer from having reasonable access at reasonable times to any
  609  insured or claimant or to the insured property that is the
  610  subject of a claim.
  611         (c) A public adjuster may not act or fail to reasonably act
  612  in any manner that obstructs or prevents an insurer or insurer’s
  613  adjuster from timely conducting an inspection of any part of the
  614  insured property for which there is a claim for loss or damage.
  615  The public adjuster representing the insureds may be present for
  616  the insurer’s inspection, but if the unavailability of the
  617  public adjuster otherwise delays the insurer’s timely inspection
  618  of the property, the public adjuster or the insureds must allow
  619  the insurer to have access to the property without the
  620  participation or presence of the public adjuster or insureds in
  621  order to facilitate the insurer’s prompt inspection of the loss
  622  or damage.
  623         (18)(15) A licensed contractor under part I of chapter 489,
  624  or a subcontractor of such licensee, may not advertise, solicit,
  625  offer to handle, handle, or perform public adjuster services as
  626  provided in subsection (1) unless licensed and compliant as a
  627  public adjuster under this chapter. The prohibition against
  628  solicitation does not preclude a contractor from suggesting or
  629  otherwise recommending to a consumer that the consumer consider
  630  contacting his or her insurer to determine if the proposed
  631  repair is covered under the consumer’s insurance policy, except
  632  as it relates to solicitation prohibited in s. 489.147. In
  633  addition, the contractor may discuss or explain a bid for
  634  construction or repair of covered property with the residential
  635  property owner who has suffered loss or damage covered by a
  636  property insurance policy, or the insurer of such property, if
  637  the contractor is doing so for the usual and customary fees
  638  applicable to the work to be performed as stated in the contract
  639  between the contractor and the insured.
  640         (19)(16) A public adjuster shall not acquire any interest
  641  in salvaged property, except with the written consent and
  642  permission of the insured through a signed affidavit.
  643         (20)(17) A public adjuster, a public adjuster apprentice,
  644  or a person acting on behalf of an adjuster or apprentice may
  645  not enter into a contract or accept a power of attorney that
  646  vests in the public adjuster, the public adjuster apprentice, or
  647  the person acting on behalf of the adjuster or apprentice the
  648  effective authority to choose the persons or entities that will
  649  perform repair work in a property insurance claim or provide
  650  goods or services that will require the insured or third-party
  651  claimant to expend funds in excess of those payable to the
  652  public adjuster under the terms of the contract for adjusting
  653  services.
  654         (21)(18) Subsections (5)-(20) (5)-(17) apply only to
  655  residential property insurance policies and condominium unit
  656  owner policies as described in s. 718.111(11).
  657         (22)(19) Except as otherwise provided in this chapter, no
  658  person, except an attorney at law or a licensed public adjuster,
  659  may for money, commission, or any other thing of value, directly
  660  or indirectly:
  661         (a) Prepare, complete, or file an insurance claim for an
  662  insured or a third-party claimant;
  663         (b) Act on behalf of or aid an insured or a third-party
  664  claimant in negotiating for or effecting the settlement of a
  665  claim for loss or damage covered by an insurance contract;
  666         (c) Offer to initiate or negotiate a claim on behalf of an
  667  insured;
  668         (d) Advertise services that require a license as a public
  669  adjuster; or
  670         (e) Solicit, investigate, or adjust a claim on behalf of a
  671  public adjuster, an insured, or a third-party claimant.
  672         (23)(20) The department may take administrative actions and
  673  impose fines against any persons performing claims adjusting,
  674  soliciting, or any other services described in this section
  675  without the licensure required under this section or s. 626.112.
  676         (24)(21) A public adjuster, public adjuster apprentice, or
  677  public adjusting firm that solicits a claim and does not enter
  678  into a contract with an insured or a third-party claimant
  679  pursuant to paragraph (13)(a) (10)(a) may not charge an insured
  680  or a third-party claimant or receive payment by any other source
  681  for any type of service related to the insured or third-party
  682  claimant’s claim.
  683         (25)(a)(22)(a) Any following act by a public adjuster, a
  684  public adjuster apprentice, or a person acting on behalf of a
  685  public adjuster or public adjuster apprentice is prohibited and
  686  shall result in discipline as applicable under this part:
  687         1. Offering to a residential property owner a rebate, gift,
  688  gift card, cash, coupon, waiver of any insurance deductible, or
  689  any other thing of value in exchange for:
  690         a. Allowing a contractor, a public adjuster, a public
  691  adjuster apprentice, or a person acting on behalf of a public
  692  adjuster or public adjuster apprentice to conduct an inspection
  693  of the residential property owner’s roof; or
  694         b. Making an insurance claim for damage to the residential
  695  property owner’s roof.
  696         2. Offering, delivering, receiving, or accepting any
  697  compensation, inducement, or reward for the referral of any
  698  services for which property insurance proceeds would be used for
  699  roofing repairs or replacement.
  700         (b) Notwithstanding the fine set forth in s. 626.8698, a
  701  public adjuster or public adjuster apprentice may be subject to
  702  a fine not to exceed $10,000 per act for a violation of this
  703  subsection and a fine not to exceed $20,000 per act for a
  704  violation of this subsection that occurs during a state of
  705  emergency declared by executive order or proclamation of the
  706  Governor pursuant to s. 252.36.
  707         (c) A person who engages in an act prohibited by this
  708  subsection and who is not a public adjuster or a public adjuster
  709  apprentice, or is not otherwise exempt from licensure, is guilty
  710  of the unlicensed practice of public adjusting and may be:
  711         1. Subject to all applicable penalties set forth in this
  712  part.
  713         2. Notwithstanding subparagraph 1., subject to a fine not
  714  to exceed $10,000 per act for a violation of this subsection and
  715  a fine not to exceed $20,000 per act for a violation of this
  716  subsection that occurs during a state of emergency declared by
  717  executive order or proclamation of the Governor pursuant to s.
  718  252.36.
  719         Section 10. Section 626.860, Florida Statutes, is amended
  720  to read:
  721         626.860 Attorneys at law; exemption.—Attorneys at law duly
  722  licensed to practice law in the courts of this state, and in
  723  good standing with The Florida Bar, shall not be required to be
  724  licensed under the provisions of this code to authorize them to
  725  adjust or participate in the adjustment of any claim, loss, or
  726  damage arising under policies or contracts of insurance. This
  727  exemption does not extend to the employees, interns, volunteers,
  728  or contractors of an attorney or of a law firm.
  729         Section 11. Section 626.875, Florida Statutes, is amended
  730  to read:
  731         626.875 Office and records.—
  732         (1)(a) Each appointed independent adjuster and licensed
  733  public adjuster must maintain a place of business in this state
  734  which is accessible to the public and keep therein the usual and
  735  customary records pertaining to transactions under the license.
  736  This provision does not prohibit maintenance of such an office
  737  in the home of the licensee.
  738         (b) A license issued under this chapter must at all times
  739  be posted in a conspicuous place in the principal place of
  740  business of the license holder. If the licensee is conducting
  741  business away from the place of business such that the license
  742  cannot be posted, the licensee shall have such license in his or
  743  her actual possession at the time of carrying on such business.
  744         (2) The records of the adjuster relating to a particular
  745  claim or loss shall be so retained in the adjuster’s place of
  746  business for a period of not less than 5 years after completion
  747  of the adjustment and shall be available for inspection by the
  748  department at all times. This provision shall not be deemed to
  749  prohibit return or delivery to the insurer or insured of
  750  documents furnished to or prepared by the adjuster and required
  751  by the insurer or insured to be returned or delivered thereto.
  752  At a minimum, the following records must be maintained for a
  753  period of not less than 5 years:
  754         (a) Name, address, telephone number, and e-mail address of
  755  the insured, and the name of the attorney representing the
  756  insured, if applicable.
  757         (b) The date, location, and amount of the loss.
  758         (c) An unaltered copy of the executed disclosure document
  759  required by s. 626.8796.
  760         (d) An unaltered copy of the executed public adjuster
  761  contract required by s. 626.8796.
  762         (e) A copy of the estimate of damages provided to the
  763  insurer.
  764         (f) The name of the insurer; the name of the claims
  765  representative of the insurer; and the amount, expiration date,
  766  and number of each policy under which the loss is covered.
  767         (g) An itemized statement of the recoveries by the insured
  768  from the sources known to the adjuster.
  769         (h) An itemized statement of all compensation received by
  770  the public adjuster from any source in connection with the loss.
  771         (i) A register of all money received, deposited, disbursed,
  772  and withdrawn in connection with a transaction with the insured,
  773  including fees, transfers, and disbursements in connection with
  774  the loss.
  775         Section 12. Section 626.8796, Florida Statutes, is amended
  776  to read:
  777         626.8796 Public adjuster contracts; disclosure statement;
  778  fraud statement.—
  779         (1) All contracts for public adjuster services must be in
  780  writing in at least 12-point type, be titled “Public Adjuster
  781  Contract,” and prominently display the following statement on
  782  the contract in minimum 18-point bold type before the space
  783  reserved in the contract for the signature of the insured:
  784  “Pursuant to s. 817.234, Florida Statutes, any person who, with
  785  the intent to injure, defraud, or deceive an insurer or insured,
  786  prepares, presents, or causes to be presented a proof of loss or
  787  estimate of cost or repair of damaged property in support of a
  788  claim under an insurance policy knowing that the proof of loss
  789  or estimate of claim or repairs contains false, incomplete, or
  790  misleading information concerning any fact or thing material to
  791  the claim commits a felony of the third degree, punishable as
  792  provided in s. 775.082, s. 775.083, or s. 775.084, Florida
  793  Statutes.”
  794         (2) A public adjuster contract relating to a property and
  795  casualty claim must contain the full name, permanent business
  796  address, phone number, e-mail address, and license number of the
  797  public adjuster; the full name of the public adjusting firm; and
  798  the insured’s full name, and street address, phone number, and
  799  e-mail address, together with a brief description of the loss.
  800  The contract must state the percentage of compensation for the
  801  public adjuster’s services in minimum 18-point bold type before
  802  the space reserved in the contract for the signature of the
  803  insured; the type of claim, including an emergency claim,
  804  nonemergency claim, or supplemental claim; the initials of the
  805  named insured on each page that does not contain the insured’s
  806  signature; the signatures of the public adjuster and all named
  807  insureds; and the signature date. If all of the named insureds’
  808  signatures are not available, the public adjuster must submit an
  809  affidavit signed by the available named insureds attesting that
  810  they have authority to enter into the contract and settle all
  811  claim issues on behalf of the named insureds. An unaltered copy
  812  of the executed contract must be remitted to the insured at the
  813  time of execution and to the insurer within 10 30 days after
  814  execution. A public adjusting firm that adjusts claims primarily
  815  for commercial entities with operations in more than one state
  816  and that does not directly or indirectly perform adjusting
  817  services for insurers or individual homeowners is deemed to
  818  comply with the requirements of this subsection if, at the time
  819  a proof of loss is submitted, the public adjusting firm remits
  820  to the insurer an affidavit signed by the public adjuster or
  821  public adjuster apprentice that identifies:
  822         (a) The full name, permanent business address, phone
  823  number, e-mail address, and license number of the public
  824  adjuster or public adjuster apprentice.
  825         (b) The full name of the public adjusting firm.
  826         (c) The insured’s full name, and street address, phone
  827  number, and e-mail address, together with a brief description of
  828  the loss.
  829         (d) An attestation that the compensation for public
  830  adjusting services will not exceed the limitations provided by
  831  law.
  832         (e) The type of claim, including an emergency claim,
  833  nonemergency claim, or supplemental claim.
  834         (3) The public adjuster shall not provide services until
  835  both the insured and insurer have been provided with unaltered
  836  copies of the executed contract.
  837         (4) The insured may rescind the contract for public
  838  adjuster services if the public adjuster has not submitted a
  839  written estimate to the insurer within 60 days after executing
  840  the contract.
  841         (5) Before the signing of the contract, the public adjuster
  842  shall provide the insured with a separate disclosure document to
  843  be signed by the insured, on a form adopted by the department,
  844  regarding the claim process which accomplishes the following:
  845         (a) Defines the following types of adjusters who may be
  846  involved in the claim process: company adjuster, independent
  847  adjuster, and public adjuster.
  848         (b) Explains that the public adjuster is not a
  849  representative or employee of the insurer.
  850         (c) Explains that the insured is not required to hire a
  851  public adjuster, but has a right to do so.
  852         (d) Explains that an insured has a right to initiate direct
  853  communications with the insured’s attorney, the insurer, the
  854  company adjuster, the insurer’s attorney, or any person
  855  regarding the settlement of the insured’s claim.
  856         (e) Explains that the public adjuster’s salary, fee,
  857  commission, or other consideration to be paid to a public
  858  adjuster is the insured’s responsibility.
  859         (f) Explains that the public adjuster is required to
  860  provide the insured an unaltered copy of the executed contract
  861  at the time of execution.
  862         (g)Explains that if the contract was entered into based on
  863  events that are the subject of a declaration of a state of
  864  emergency by the Governor, an insured or a claimant may cancel
  865  the public adjuster’s contract to adjust a claim without penalty
  866  or obligation within 30 days after the date of the event or 10
  867  days after the date on which the contract is executed, whichever
  868  is longer.
  869         (h) The public adjuster shall provide an unaltered copy of
  870  the executed disclosure document to the insured at the time of
  871  execution.
  872         (6) A contract that does not comply with this section is
  873  invalid and unenforceable.
  874         (7) The department may adopt rules pursuant to ss.
  875  120.536(1) and 120.54 to implement this section, including rules
  876  to adopt forms required by this section.
  877         Section 13. Section 626.8797, Florida Statutes, is amended
  878  to read:
  879         626.8797 Proof of loss; fraud statement.—All proof-of-loss
  880  statements must prominently display the following statement in
  881  minimum 18-point bold type before the space reserved in the
  882  contract for the signature of the insured: “Pursuant to s.
  883  817.234, Florida Statutes, any person who, with the intent to
  884  injure, defraud, or deceive any insurer or insured, prepares,
  885  presents, or causes to be presented a proof of loss or estimate
  886  of cost or repair of damaged property in support of a claim
  887  under an insurance policy knowing that the proof of loss or
  888  estimate of claim or repairs contains any false, incomplete, or
  889  misleading information concerning any fact or thing material to
  890  the claim commits a felony of the third degree, punishable as
  891  provided in s. 775.082, s. 775.083, or s. 775.084, Florida
  892  Statutes.”
  893         Section 14. Paragraph (a) of subsection (1) of section
  894  626.9541, Florida Statutes, is amended to read:
  895         626.9541 Unfair methods of competition and unfair or
  896  deceptive acts or practices defined.—
  897         (1) UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE
  898  ACTS.—The following are defined as unfair methods of competition
  899  and unfair or deceptive acts or practices:
  900         (a) Misrepresentations and false advertising of insurance
  901  policies.—Knowingly making, issuing, circulating, or causing to
  902  be made, issued, or circulated, any estimate, illustration,
  903  circular, statement, sales presentation, omission, comparison,
  904  or property and casualty certificate of insurance altered after
  905  being issued, which:
  906         1. Misrepresents the benefits, advantages, conditions, or
  907  terms of any insurance policy.
  908         2. Misrepresents the dividends or share of the surplus to
  909  be received on any insurance policy.
  910         3. Makes any false or misleading statements as to the
  911  dividends or share of surplus previously paid on any insurance
  912  policy.
  913         4. Is misleading, or is a misrepresentation, as to the
  914  financial condition of any person or as to the legal reserve
  915  system upon which any life insurer operates.
  916         5. Uses any name or title of any insurance policy or class
  917  of insurance policies misrepresenting the true nature thereof.
  918         6. Is a misrepresentation for the purpose of inducing, or
  919  tending to induce, the lapse, forfeiture, exchange, conversion,
  920  or surrender of any insurance policy.
  921         7. Is a misrepresentation for the purpose of effecting a
  922  pledge or assignment of, or effecting a loan against, any
  923  insurance policy.
  924         8. Misrepresents any insurance policy as being shares of
  925  stock or misrepresents ownership interest in the company.
  926         9. Uses any advertisement that would mislead or otherwise
  927  cause a reasonable person to believe mistakenly that the state
  928  or the Federal Government is responsible for the insurance sales
  929  activities of any person or stands behind any person’s credit or
  930  that any person, the state, or the Federal Government guarantees
  931  any returns on insurance products or is a source of payment of
  932  any insurance obligation of or sold by any person.
  933         10. Fails to disclose a third party that receives
  934  royalties, referral fees, or other remuneration for sponsorship,
  935  marketing, or use of third-party branding for a policy of health
  936  insurance as defined in s. 624.603.
  937         Section 15. Paragraph (c) of subsection (2) of section
  938  627.4025, Florida Statutes, is amended, and paragraph (d) is
  939  added to that subsection, to read:
  940         627.4025 Residential coverage and hurricane coverage
  941  defined.—
  942         (2) As used in policies providing residential coverage:
  943         (c) “Hurricane” for purposes of paragraphs (a) and (b)
  944  means a storm system that has been declared to be a hurricane by
  945  the National Hurricane Center of the National Weather Service.
  946  The duration of the hurricane includes the time period, in
  947  Florida:
  948         1. Beginning at the time a hurricane watch or hurricane
  949  warning is issued for any part of Florida by the National
  950  Hurricane Center of the National Weather Service; and
  951         2. Continuing for the time period during which the
  952  hurricane conditions exist anywhere in Florida; and
  953         3. Ending 24 72 hours following the termination of the last
  954  hurricane watch or hurricane warning issued for any part of
  955  Florida by the National Hurricane Center of the National Weather
  956  Service.
  957         (d) “Hurricane deductible” means the deductible applicable
  958  to loss caused by a hurricane.
  959         Section 16. Paragraph (b) of subsection (1) and paragraph
  960  (b) of subsection (2) of section 627.4133, Florida Statutes, are
  961  amended to read:
  962         627.4133 Notice of cancellation, nonrenewal, or renewal
  963  premium.—
  964         (1) Except as provided in subsection (2):
  965         (b) An insurer issuing a policy providing coverage for
  966  property, casualty, except mortgage guaranty, surety, or marine
  967  insurance, other than motor vehicle insurance subject to s.
  968  627.728 or s. 627.7281, shall give the first-named insured
  969  written notice of cancellation or termination other than
  970  nonrenewal at least 45 days prior to the effective date of the
  971  cancellation or termination, including in the written notice the
  972  reason or reasons for the cancellation or termination, except
  973  that:
  974         1. When cancellation is for nonpayment of premium, at least
  975  10 days’ written notice of cancellation accompanied by the
  976  reason therefor shall be given. As used in this subparagraph and
  977  s. 440.42(3), the term “nonpayment of premium” means failure of
  978  the named insured to discharge when due any of her or his
  979  obligations in connection with the payment of premiums on a
  980  policy or any installment of such premium, whether the premium
  981  is payable directly to the insurer or its agent or indirectly
  982  under any premium finance plan or extension of credit, or
  983  failure to maintain membership in an organization if such
  984  membership is a condition precedent to insurance coverage.
  985  “Nonpayment of premium” also means the failure of a financial
  986  institution to honor an insurance applicant’s check after
  987  delivery to a licensed agent for payment of a premium, even if
  988  the agent has previously delivered or transferred the premium to
  989  the insurer. If a dishonored check represents the initial
  990  premium payment, the contract and all contractual obligations
  991  shall be void ab initio unless the nonpayment is cured within
  992  the earlier of 5 days after actual notice by certified mail is
  993  received by the applicant or 15 days after notice is sent to the
  994  applicant by certified mail or registered mail, and if the
  995  contract is void, any premium received by the insurer from a
  996  third party shall be refunded to that party in full; and
  997         2. When such cancellation or termination occurs during the
  998  first 60 90 days during which the insurance is in force and the
  999  insurance is canceled or terminated for reasons other than
 1000  nonpayment of premium, at least 20 days’ written notice of
 1001  cancellation or termination accompanied by the reason therefor
 1002  shall be given except where there has been a material
 1003  misstatement or misrepresentation or failure to comply with the
 1004  underwriting requirements established by the insurer.
 1005  
 1006  After the policy has been in effect for 60 90 days, no such
 1007  policy shall be canceled by the insurer except when there has
 1008  been a material misstatement, a nonpayment of premium, a failure
 1009  to comply with underwriting requirements established by the
 1010  insurer within 60 90 days of the date of effectuation of
 1011  coverage, or a substantial change in the risk covered by the
 1012  policy or when the cancellation is for all insureds under such
 1013  policies for a given class of insureds. This subsection does not
 1014  apply to individually rated risks having a policy term of less
 1015  than 90 days.
 1016         (2) With respect to any personal lines or commercial
 1017  residential property insurance policy, including, but not
 1018  limited to, any homeowner, mobile home owner, farmowner,
 1019  condominium association, condominium unit owner, apartment
 1020  building, or other policy covering a residential structure or
 1021  its contents:
 1022         (b) The insurer shall give the first-named insured written
 1023  notice of nonrenewal, cancellation, or termination at least 120
 1024  days before the effective date of the nonrenewal, cancellation,
 1025  or termination. The notice must include the reason for the
 1026  nonrenewal, cancellation, or termination, except that:
 1027         1. If cancellation is for nonpayment of premium, at least
 1028  10 days’ written notice of cancellation accompanied by the
 1029  reason therefor must be given. As used in this subparagraph, the
 1030  term “nonpayment of premium” means failure of the named insured
 1031  to discharge when due her or his obligations for paying the
 1032  premium on a policy or an installment of such premium, whether
 1033  the premium is payable directly to the insurer or its agent or
 1034  indirectly under a premium finance plan or extension of credit,
 1035  or failure to maintain membership in an organization if such
 1036  membership is a condition precedent to insurance coverage. The
 1037  term also means the failure of a financial institution to honor
 1038  an insurance applicant’s check after delivery to a licensed
 1039  agent for payment of a premium even if the agent has previously
 1040  delivered or transferred the premium to the insurer. If a
 1041  dishonored check represents the initial premium payment, the
 1042  contract and all contractual obligations are void ab initio
 1043  unless the nonpayment is cured within the earlier of 5 days
 1044  after actual notice by certified mail is received by the
 1045  applicant or 15 days after notice is sent to the applicant by
 1046  certified mail or registered mail. If the contract is void, any
 1047  premium received by the insurer from a third party must be
 1048  refunded to that party in full.
 1049         2. If cancellation or termination occurs during the first
 1050  60 90 days the insurance is in force and the insurance is
 1051  canceled or terminated for reasons other than nonpayment of
 1052  premium, at least 20 days’ written notice of cancellation or
 1053  termination accompanied by the reason therefor must be given
 1054  unless there has been a material misstatement or
 1055  misrepresentation or a failure to comply with the underwriting
 1056  requirements established by the insurer.
 1057         3. After the policy has been in effect for 60 90 days, the
 1058  policy may not be canceled by the insurer unless there has been
 1059  a material misstatement; a nonpayment of premium; a failure to
 1060  comply, within 60 90 days after the date of effectuation of
 1061  coverage, with underwriting requirements established by the
 1062  insurer before the date of effectuation of coverage; or a
 1063  substantial change in the risk covered by the policy or unless
 1064  the cancellation is for all insureds under such policies for a
 1065  given class of insureds. This subparagraph does not apply to
 1066  individually rated risks that have a policy term of less than 90
 1067  days.
 1068         4. After a policy or contract has been in effect for more
 1069  than 60 90 days, the insurer may not cancel or terminate the
 1070  policy or contract based on credit information available in
 1071  public records.
 1072         5. A policy that is nonrenewed by Citizens Property
 1073  Insurance Corporation, pursuant to s. 627.351(6), for a policy
 1074  that has been assumed by an authorized insurer offering
 1075  replacement coverage to the policyholder is exempt from the
 1076  notice requirements of paragraph (a) and this paragraph. In such
 1077  cases, the corporation must give the named insured written
 1078  notice of nonrenewal at least 45 days before the effective date
 1079  of the nonrenewal.
 1080         6. Notwithstanding any other provision of law, an insurer
 1081  may cancel or nonrenew a property insurance policy after at
 1082  least 45 days’ notice if the office finds that the early
 1083  cancellation of some or all of the insurer’s policies is
 1084  necessary to protect the best interests of the public or
 1085  policyholders and the office approves the insurer’s plan for
 1086  early cancellation or nonrenewal of some or all of its policies.
 1087  The office may base such finding upon the financial condition of
 1088  the insurer, lack of adequate reinsurance coverage for hurricane
 1089  risk, or other relevant factors. The office may condition its
 1090  finding on the consent of the insurer to be placed under
 1091  administrative supervision pursuant to s. 624.81 or to the
 1092  appointment of a receiver under chapter 631.
 1093         7. A policy covering both a home and a motor vehicle may be
 1094  nonrenewed for any reason applicable to the property or motor
 1095  vehicle insurance after providing 90 days’ notice.
 1096         Section 17. Effective January 1, 2024, section 627.4554,
 1097  Florida Statutes, is amended to read:
 1098         627.4554 Suitability in annuity transactions investments.—
 1099         (1) PURPOSE.—The purpose of this section is to require
 1100  agents to act in the best interest of the consumer when making a
 1101  recommendation of an annuity and to require insurers to
 1102  establish and maintain a system to supervise so set forth
 1103  standards and procedures for making recommendations to consumers
 1104  which result in transactions involving annuity products, and to
 1105  establish a system for supervising such recommendations in order
 1106  to ensure that the insurance needs and financial objectives of
 1107  consumers are effectively appropriately addressed at the time of
 1108  the transaction.
 1109         (2) SCOPE.—This section applies to any sale or
 1110  recommendation of made to a consumer to purchase, exchange, or
 1111  replace an annuity by an insurer or its agent, and which results
 1112  in the purchase, exchange, or replacement recommended.
 1113         (3) DEFINITIONS.—As used in this section, the term:
 1114         (a) “Agent” means a person or entity required to be
 1115  licensed under the laws of this state to sell, solicit, or
 1116  negotiate insurance, including annuities. For purposes of this
 1117  section, the term includes an insurer when no agent is involved
 1118  has the same meaning as provided in s. 626.015.
 1119         (b) “Annuity” means an insurance product under state law
 1120  which is individually solicited, whether classified as an
 1121  individual or group annuity.
 1122         (c) “Cash compensation” means any discount, concession,
 1123  fee, service fee, commission, sales charge, loan, override, or
 1124  cash benefit received by an agent from an insurer or
 1125  intermediary or directly from the consumer in connection with
 1126  the recommendation or sale of an annuity.
 1127         (d) “Consumer profile information” means information that
 1128  is reasonably appropriate to determine whether a recommendation
 1129  addresses the consumer’s financial situation, insurance needs,
 1130  and financial objectives, including, at a minimum, the
 1131  following:
 1132         1. Age.
 1133         2. Annual income.
 1134         3. Financial situation and needs, including debts and other
 1135  obligations.
 1136         4. Financial experience.
 1137         5. Insurance needs.
 1138         6. Financial objectives.
 1139         7. Intended use of the annuity.
 1140         8. Financial time horizon.
 1141         9. Existing assets or financial products, including
 1142  investment, annuity, and insurance holdings.
 1143         10. Liquidity needs.
 1144         11. Liquid net worth.
 1145         12. Risk tolerance, including, but not limited to,
 1146  willingness to accept nonguaranteed elements in the annuity.
 1147         13. Financial resources used to fund the annuity.
 1148         14. Tax status.
 1149         (e)(c) “FINRA” means the Financial Industry Regulatory
 1150  Authority or a succeeding agency.
 1151         (f)(d) “Insurer” has the same meaning as provided in s.
 1152  624.03.
 1153         (g) “Intermediary” means an entity contracted directly with
 1154  an insurer or with another entity contracted with an insurer to
 1155  facilitate the sale of the insurer’s annuities by agents.
 1156         (h) “Material conflict of interest” means a financial
 1157  interest of the agent in the sale of an annuity which a
 1158  reasonable person would expect to influence the impartiality of
 1159  a recommendation. The term does not include cash compensation or
 1160  noncash compensation.
 1161         (i) “Noncash compensation” means any form of compensation
 1162  that is not cash compensation, including, but not limited to,
 1163  health insurance, office rent, office support, and retirement
 1164  benefits.
 1165         (j) “Nonguaranteed elements” means the premiums; credited
 1166  interest rates, including any bonus; benefits; values;
 1167  dividends; noninterest-based credits; charges; or elements of
 1168  formulas used to determine any of these, which are subject to
 1169  company discretion and are not guaranteed at issue. An element
 1170  is considered nonguaranteed if any of the underlying
 1171  nonguaranteed elements are used in its calculation.
 1172         (k)(e) “Recommendation” means advice provided by an insurer
 1173  or its agent to an individual a consumer which was intended to
 1174  result or does result which would result in a the purchase, an
 1175  exchange, or a replacement of an annuity in accordance with that
 1176  advice. The term does not include general communication to the
 1177  public, generalized customer services, assistance or
 1178  administrative support, general educational information and
 1179  tools, prospectuses, or other product and sales material.
 1180         (l)(f) “Replacement” means a transaction in which a new
 1181  annuity policy or contract is to be purchased and it is known or
 1182  should be known to the proposing insurer or its agent, or to the
 1183  proposing insurer whether or not an agent is involved, that by
 1184  reason of such transaction an existing annuity or other
 1185  insurance policy has been or is to be any of the following or
 1186  contract will be:
 1187         1. Lapsed, forfeited, surrendered or partially surrendered,
 1188  assigned to the replacing insurer, or otherwise terminated;
 1189         2. Converted to reduced paid-up insurance, continued as
 1190  extended term insurance, or otherwise reduced in value due to
 1191  the use of nonforfeiture benefits or other policy values;
 1192         3. Amended so as to effect a reduction in benefits or the
 1193  term for which coverage would otherwise remain in force or for
 1194  which benefits would be paid;
 1195         4. Reissued with a reduction in cash value; or
 1196         5. Used in a financed purchase.
 1197         (m) “SEC” means the United States Securities and Exchange
 1198  Commission.
 1199         (g) “Suitability information” means information related to
 1200  the consumer which is reasonably appropriate to determine the
 1201  suitability of a recommendation made to the consumer, including
 1202  the following:
 1203         1. Age;
 1204         2. Annual income;
 1205         3. Financial situation and needs, including the financial
 1206  resources used for funding the annuity;
 1207         4. Financial experience;
 1208         5. Financial objectives;
 1209         6. Intended use of the annuity;
 1210         7. Financial time horizon;
 1211         8. Existing assets, including investment and life insurance
 1212  holdings;
 1213         9. Liquidity needs;
 1214         10. Liquid net worth;
 1215         11. Risk tolerance; and
 1216         12. Tax status.
 1217         (4) EXEMPTIONS.—Unless otherwise specifically included,
 1218  this section does not apply to transactions involving:
 1219         (a) Direct-response solicitations where there is no
 1220  recommendation based on information collected from the consumer
 1221  pursuant to this section;
 1222         (b) Contracts used to fund:
 1223         1. An employee pension or welfare benefit plan that is
 1224  covered by the federal Employee Retirement and Income Security
 1225  Act;
 1226         2. A plan described by s. 401(a), s. 401(k), s. 403(b), s.
 1227  408(k), or s. 408(p) of the Internal Revenue Code, if
 1228  established or maintained by an employer;
 1229         3. A government or church plan defined in s. 414 of the
 1230  Internal Revenue Code, a government or church welfare benefit
 1231  plan, or a deferred compensation plan of a state or local
 1232  government or tax-exempt organization under s. 457 of the
 1233  Internal Revenue Code; or
 1234         4. A nonqualified deferred compensation arrangement
 1235  established or maintained by an employer or plan sponsor;
 1236         (c)5. Settlements or assumptions of liabilities associated
 1237  with personal injury litigation or a dispute or claim-resolution
 1238  process; or
 1239         (d)6. Formal prepaid funeral contracts.
 1240         (5) DUTIES OF INSURERS AND AGENTS.—
 1241         (a) An agent, when making a recommendation of an annuity,
 1242  shall act in the best interest of the consumer under the
 1243  circumstances known at the time the recommendation is made,
 1244  without placing the financial interest of the agent or insurer
 1245  ahead of the consumer’s interest. An agent has acted in the best
 1246  interest of the consumer if the agent has satisfied the
 1247  following obligations regarding care, disclosure, conflict of
 1248  interest, and documentation:
 1249         1.a. The agent, in making a recommendation, shall exercise
 1250  reasonable diligence, care, and skill to:
 1251         (I) Know the financial situation, insurance needs, and
 1252  financial objectives of the customer.
 1253         (II) Understand the available options after making a
 1254  reasonable inquiry into options available to the agent.
 1255         (III) Have a reasonable basis to believe the recommended
 1256  option effectively addresses the consumer’s financial situation,
 1257  insurance needs, and financial objectives over the life of the
 1258  product, as evaluated in light of the consumer profile
 1259  information.
 1260         (IV) Communicate the reason or reasons for the
 1261  recommendation.
 1262         b. The requirements of sub-subparagraph a. include:
 1263         (I) Making reasonable efforts to obtain consumer profile
 1264  information from the consumer before the recommendation of an
 1265  annuity.
 1266         (II) Requiring an agent to consider the types of products
 1267  the agent is authorized and licensed to recommend or sell which
 1268  address the consumer’s financial situation, insurance needs, and
 1269  financial objectives. This does not require analysis or
 1270  consideration of any products outside the authority and license
 1271  of the agent or other possible alternative products or
 1272  strategies available in the market at the time of the
 1273  recommendation. Agents shall be held to standards applicable to
 1274  agents with similar authority and licensure.
 1275         (III) Having a reasonable basis to believe the consumer
 1276  would benefit from certain features of the annuity, such as
 1277  annuitization, death or living benefit, or other insurance
 1278  related features.
 1279         c. The requirements of this subsection do not create a
 1280  fiduciary obligation or relationship and only create a
 1281  regulatory obligation as provided in this section.
 1282         d. The consumer profile information, characteristics of the
 1283  insurer, and product costs, rates, benefits, and features are
 1284  those factors generally relevant in making a determination
 1285  whether an annuity effectively addresses the consumer’s
 1286  financial situation, insurance needs, and financial objectives,
 1287  but the level of importance of each factor under the care
 1288  obligation of this paragraph may vary depending on the facts and
 1289  circumstances of a particular case. However, each factor may not
 1290  be considered in isolation.
 1291         e. The requirements under sub-subparagraph a. apply to the
 1292  particular annuity as a whole and the underlying subaccounts to
 1293  which funds are allocated at the time of purchase or exchange of
 1294  an annuity, and riders and similar product enhancements, if any.
 1295         f. Sub-subparagraph a. does not require that the annuity
 1296  with the lowest one-time occurrence compensation structure or
 1297  multiple occurrence compensation structure shall necessarily be
 1298  recommended.
 1299         g. Sub-subparagraph a. does not require the agent to have
 1300  ongoing monitoring obligations under the care obligation,
 1301  although such an obligation may be separately owed under the
 1302  terms of a fiduciary, consulting, investment, advising, or
 1303  financial planning agreement between the consumer and the agent.
 1304         h. In the case of an exchange or replacement of an annuity,
 1305  the agent shall consider the whole transaction, which includes
 1306  taking into consideration whether:
 1307         (I) The consumer will incur a surrender charge; be subject
 1308  to the commencement of a new surrender period; lose existing
 1309  benefits, such as death, living, or other contractual benefits;
 1310  or be subject to increased fees, investment advisory fees, or
 1311  charges for riders and similar product enhancements.
 1312         (II) The replacing product would substantially benefit the
 1313  consumer in comparison to the replaced product over the life of
 1314  the product.
 1315         (III) The consumer has had another annuity exchange or
 1316  replacement and, in particular, an exchange or replacement
 1317  within the preceding 60 months.
 1318         i. This section does not require an agent to obtain any
 1319  license other than an agent license with the appropriate line of
 1320  authority to sell, solicit, or negotiate insurance in this
 1321  state, including, but not limited to, any securities license, in
 1322  order to fulfill the duties and obligations contained in this
 1323  section; provided, the agent does not give advice or provide
 1324  services that are otherwise subject to securities laws or engage
 1325  in any other activity requiring other professional licenses.
 1326         2.a. Before the recommendation or sale of an annuity, the
 1327  agent shall prominently disclose to the consumer, on a form
 1328  substantially similar to that posted on the office website as
 1329  Appendix A, related to an insurance agent disclosure for
 1330  annuities:
 1331         (I) A description of the scope and terms of the
 1332  relationship with the consumer and the role of the agent in the
 1333  transaction.
 1334         (II) An affirmative statement on whether the agent is
 1335  licensed and authorized to sell the following products:
 1336         (A) Fixed annuities.
 1337         (B) Fixed indexed annuities.
 1338         (C) Variable annuities.
 1339         (D) Life insurance.
 1340         (E) Mutual funds.
 1341         (F) Stocks and bonds.
 1342         (G) Certificates of deposit.
 1343         (III) An affirmative statement describing the insurers for
 1344  which the agent is authorized, contracted, or appointed, or
 1345  otherwise able to sell insurance products, using the following
 1346  descriptions:
 1347         (A) From one insurer;
 1348         (B) From two or more insurers; or
 1349         (C) From two or more insurers, although primarily
 1350  contracted with one insurer.
 1351         (IV) A description of the sources and types of cash
 1352  compensation and noncash compensation to be received by the
 1353  agent, including whether the agent is to be compensated for the
 1354  sale of a recommended annuity by commission as part of premium
 1355  or other remuneration received from the insurer, intermediary,
 1356  or other agent, or by fee as a result of a contract for advice
 1357  or consulting services.
 1358         (V) A notice of the consumer’s right to request additional
 1359  information regarding cash compensation described in sub
 1360  subparagraph b.
 1361         b. Upon request of the consumer or the consumer’s
 1362  designated representative, the agent shall disclose:
 1363         (I) A reasonable estimate of the amount of cash
 1364  compensation to be received by the agent, which may be stated as
 1365  a range of amounts or percentages.
 1366         (II) Whether the cash compensation is a one-time or
 1367  multiple occurrence amount; and if a multiple occurrence amount,
 1368  the frequency and amount of the occurrence, which may be stated
 1369  as a range of amounts or percentages. When recommending the
 1370  purchase or exchange of an annuity to a consumer which results
 1371  in an insurance transaction or series of insurance transactions,
 1372  the agent, or the insurer where no agent is involved, must have
 1373  reasonable grounds for believing that the recommendation is
 1374  suitable for the consumer, based on the consumer’s suitability
 1375  information, and that there is a reasonable basis to believe all
 1376  of the following:
 1377         c.1.Before or at the time of the recommendation or sale of
 1378  an annuity, the agent shall have a reasonable basis to believe
 1379  the consumer has been reasonably informed of various features of
 1380  the annuity, such as the potential surrender period and
 1381  surrender charge; potential tax penalty if the consumer sells,
 1382  exchanges, surrenders, or annuitizes the annuity; mortality and
 1383  expense fees; any annual fees; investment advisory fees;
 1384  potential charges for and features of riders or other options of
 1385  the annuity; limitations on interest returns; potential changes
 1386  in nonguaranteed elements of the annuity; insurance and
 1387  investment components; and market risk.
 1388         2. The consumer would benefit from certain features of the
 1389  annuity, such as tax-deferred growth, annuitization, or the
 1390  death or living benefit.
 1391         3. An agent shall identify and avoid or reasonably manage
 1392  and disclose material conflicts of interest, including material
 1393  conflicts of interest related to an ownership interest.
 1394         4. An agent shall at the time of the recommendation or
 1395  sale:
 1396         a. Make a written record of any recommendation and the
 1397  basis for the recommendation, subject to this section.
 1398         b. Obtain a consumer-signed statement on a form
 1399  substantially similar to that posted on the office website as
 1400  Appendix B, related to a consumer’s refusal to provide
 1401  information, documenting:
 1402         (I) A customer’s refusal to provide the consumer profile
 1403  information, if any.
 1404         (II) A customer’s understanding of the ramifications of not
 1405  providing his or her consumer profile information or providing
 1406  insufficient consumer profile information.
 1407         c. Obtain a consumer-signed statement on a form
 1408  substantially similar to that posted on the office website as
 1409  Appendix C, related to a consumer’s decision to purchase an
 1410  annuity not based on a recommendation, acknowledging the annuity
 1411  transaction is not recommended if a customer decides to enter
 1412  into an annuity transaction that is not based on the agent’s
 1413  recommendation.
 1414         5. Any requirement applicable to an agent under this
 1415  subsection applies to every agent who has exercised material
 1416  control or influence in the making of a recommendation and has
 1417  received direct compensation as a result of the recommendation
 1418  or sale, regardless of whether the agent has had any direct
 1419  contact with the consumer. Activities such as providing or
 1420  delivering marketing or education materials, product wholesaling
 1421  or other back office product support, and general supervision of
 1422  an agent do not, in and of themselves, constitute material
 1423  control or influence.
 1424         3. The particular annuity as a whole, the underlying
 1425  subaccounts to which funds are allocated at the time of purchase
 1426  or exchange of the annuity, and riders and similar product
 1427  enhancements, if any, are suitable; and, in the case of an
 1428  exchange or replacement, the transaction as a whole is suitable
 1429  for the particular consumer based on his or her suitability
 1430  information.
 1431         4. In the case of an exchange or replacement of an annuity,
 1432  the exchange or replacement is suitable after considering
 1433  whether the consumer:
 1434         a. Will incur a surrender charge; be subject to the
 1435  commencement of a new surrender period; lose existing benefits,
 1436  such as death, living, or other contractual benefits; or be
 1437  subject to increased fees, investment advisory fees, or charges
 1438  for riders and similar product enhancements;
 1439         b. Would benefit from product enhancements and
 1440  improvements; and
 1441         c. Has had another annuity exchange or replacement,
 1442  including an exchange or replacement within the preceding 36
 1443  months.
 1444         (b) Before executing a purchase, exchange, or replacement
 1445  of an annuity resulting from a recommendation, an insurer or its
 1446  agent must make reasonable efforts to obtain the consumer’s
 1447  suitability information. The information shall be collected on
 1448  form DFS-H1-1980, which is hereby incorporated by reference, and
 1449  completed and signed by the applicant and agent. Questions
 1450  requesting this information must be presented in at least 12
 1451  point type and be sufficiently clear so as to be readily
 1452  understandable by both the agent and the consumer. A true and
 1453  correct executed copy of the form must be provided by the agent
 1454  to the insurer, or to the person or entity that has contracted
 1455  with the insurer to perform this function as authorized by this
 1456  section, within 10 days after execution of the form, and shall
 1457  be provided to the consumer no later than the date of delivery
 1458  of the contract or contracts.
 1459         (c) Except as provided under paragraph (d), an insurer may
 1460  not issue an annuity recommended to a consumer unless there is a
 1461  reasonable basis to believe the annuity is suitable based on the
 1462  consumer’s suitability information.
 1463         (b)1.(d)Except as provided under subparagraph 2., An
 1464  insurer’s issuance of an annuity must be reasonable based on all
 1465  the circumstances actually known to the insurer at the time the
 1466  annuity is issued. However, an insurer or its agent does not
 1467  have does not have an obligation to a consumer related to an
 1468  annuity transaction under subparagraph (a)1. paragraph (a) or
 1469  paragraph (c) if:
 1470         a.1. A recommendation has not been made;
 1471         b.2. A recommendation was made and is later found to have
 1472  been based on materially inaccurate information provided by the
 1473  consumer;
 1474         c.3. A consumer refuses to provide relevant consumer
 1475  profile suitability information and the annuity transaction is
 1476  not recommended; or
 1477         d.4. A consumer decides to enter into an annuity
 1478  transaction that is not based on a recommendation of the an
 1479  insurer or its agent.
 1480         2. An insurer’s issuance of an annuity subject to
 1481  subparagraph 1. must be reasonable under all the circumstances
 1482  actually known to the insurer at the time the annuity is issued.
 1483         (c)1. Except as permitted under paragraph (b), an insurer
 1484  may not issue an annuity recommended to a consumer unless there
 1485  is a reasonable basis to believe the annuity would effectively
 1486  address the particular consumer’s financial situation, insurance
 1487  needs, and financial objectives based on the consumer’s consumer
 1488  profile information.
 1489         (e) At the time of sale, the agent or the agent’s
 1490  representative must:
 1491         1. Make a record of any recommendation made to the consumer
 1492  pursuant to paragraph (a);
 1493         2. Obtain the consumer’s signed statement documenting his
 1494  or her refusal to provide suitability information, if
 1495  applicable; and
 1496         3. Obtain the consumer’s signed statement acknowledging
 1497  that an annuity transaction is not recommended if he or she
 1498  decides to enter into an annuity transaction that is not based
 1499  on the insurer’s or its agent’s recommendation, if applicable.
 1500         (f) Before executing a replacement or exchange of an
 1501  annuity contract resulting from a recommendation, the agent must
 1502  provide on form DFS-H1-1981, which is hereby incorporated by
 1503  reference, information that compares the differences between the
 1504  existing annuity contract and the annuity contract being
 1505  recommended in order to determine the suitability of the
 1506  recommendation and its benefit to the consumer. A true and
 1507  correct executed copy of this form must be provided by the agent
 1508  to the insurer, or to the person or entity that has contracted
 1509  with the insurer to perform this function as authorized by this
 1510  section, within 10 days after execution of the form, and must be
 1511  provided to the consumer no later than the date of delivery of
 1512  the contract or contracts.
 1513         2.(g) An insurer shall establish and maintain a supervision
 1514  system that is reasonably designed to achieve the insurer’s and
 1515  its agent’s compliance with this section, including, but not
 1516  limited to, the following:.
 1517         1. Such system must include, but is not limited to:
 1518         a. The insurer shall establish and maintain Maintaining
 1519  reasonable procedures to inform its agents of the requirements
 1520  of this section and incorporating those requirements into
 1521  relevant agent training manuals.;
 1522         b. The insurer shall establish and maintain Establishing
 1523  standards for agent product training and shall establish and
 1524  maintain reasonable procedures to require its agents to comply
 1525  with the requirements of subsection (6).;
 1526         c. The insurer shall provide Providing product-specific
 1527  training and training materials that explain all material
 1528  features of its annuity products to its agents.;
 1529         d. The insurer shall establish and maintain Maintaining
 1530  procedures for the review of each recommendation before issuance
 1531  of an annuity which are designed to ensure that there is a
 1532  reasonable basis to determine the recommended annuity would
 1533  effectively address the particular consumer’s financial
 1534  situation, insurance needs, and financial objectives for
 1535  determining that a recommendation is suitable. Such review
 1536  procedures may use a screening system for identifying selected
 1537  transactions for additional review and may be accomplished
 1538  electronically or through other means, including, but not
 1539  limited to, physical review. Such electronic or other system may
 1540  be designed to require additional review only of those
 1541  transactions identified for additional review using established
 1542  selection criteria.;
 1543         e. The insurer shall establish and maintain Maintaining
 1544  reasonable procedures to detect recommendations that are not in
 1545  compliance with paragraphs (a)-(e). This may include, but is not
 1546  limited to, suitable, such as confirmation of consumer profile
 1547  suitability information, systematic customer surveys, agent and
 1548  consumer interviews, confirmation letters, agent statements or
 1549  attestations, and internal monitoring programs. This sub
 1550  subparagraph does not prevent an insurer from using sampling
 1551  procedures or from confirming the consumer profile suitability
 1552  information after the issuance or delivery of the annuity.; and
 1553         f. The insurer shall establish and maintain reasonable
 1554  procedures to assess, prior to or upon issuance or delivery of
 1555  an annuity, whether an agent has provided to the consumer the
 1556  information required to be provided under this subsection.
 1557         g. The insurer shall establish and maintain reasonable
 1558  procedures to identify and address suspicious consumer refusals
 1559  to provide consumer profile information.
 1560         h. The insurer shall establish and maintain reasonable
 1561  procedures to identify and eliminate any sales contests, sales
 1562  quotas, bonuses, and noncash compensation that are based on the
 1563  sales of specific annuities within a limited period of time. The
 1564  requirements of this sub-subparagraph are not intended to
 1565  prohibit the receipt of health insurance, office rents, office
 1566  support, retirement benefits, or other employee benefits by
 1567  employees, as long as those benefits are not based upon the
 1568  volume of sales of a specific annuity within a limited period of
 1569  time.
 1570         i.f.The insurer shall annually provide providing a written
 1571  report to senior managers, including the senior manager who is
 1572  responsible for audit functions, which details a review, along
 1573  with appropriate testing, which is reasonably designed to
 1574  determine the effectiveness of the supervision system, the
 1575  exceptions found, and corrective action taken or recommended, if
 1576  any.
 1577         3.2. An insurer is not required to include in its
 1578  supervision system:
 1579         a. Agent recommendations to consumers of products other
 1580  than the annuities offered by the insurer; or
 1581         b. Consideration of or comparison to options available to
 1582  the agent or compensation relating to those options other than
 1583  annuities or other products offered by the insurer.
 1584         4.3. An insurer may contract for performance of a function,
 1585  including maintenance of procedures, required under subparagraph
 1586  1.
 1587         a. An insurer’s supervision system under this subsection
 1588  shall include supervision of contractual performance under this
 1589  subsection, which includes, but is If an insurer contracts for
 1590  the performance of a function, the insurer must include the
 1591  supervision of contractual performance as part of those
 1592  procedures listed in subparagraph 1. These include, but are not
 1593  limited to:
 1594         (I) Monitoring and, as appropriate, conducting audits to
 1595  ensure that the contracted function is properly performed; and
 1596         (II) Annually obtaining a certification from a senior
 1597  manager who has responsibility for the contracted function that
 1598  the manager has a reasonable basis to represent, and does
 1599  represent, for representing that the function is being properly
 1600  performed.
 1601         b. An insurer is responsible for taking appropriate
 1602  corrective action and may be subject to sanctions and penalties
 1603  pursuant to subsection (8) (7) regardless of whether the insurer
 1604  contracts for performance of a function and regardless of the
 1605  insurer’s compliance with sub-subparagraph a.
 1606         (d)(h)Neither an agent nor an insurer shall may not
 1607  dissuade, or attempt to dissuade, a consumer from:
 1608         1. Truthfully responding to an insurer’s request for
 1609  confirmation of consumer profile suitability information;
 1610         2. Filing a complaint; or
 1611         3. Cooperating with the investigation of a complaint.
 1612         (e)1.(i)Recommendations and sales made in compliance with
 1613  comparable standards shall FINRA requirements pertaining to the
 1614  suitability and supervision of annuity transactions satisfy the
 1615  requirements of this section. This applies to all
 1616  recommendations and FINRA broker-dealer sales of variable
 1617  annuities made by financial professionals in compliance with
 1618  business rules, controls, and procedures that satisfy a
 1619  comparable standard even if such standard would not otherwise
 1620  apply to the product or recommendation at issue and fixed
 1621  annuities if the suitability and supervision is similar to those
 1622  applied to variable annuity sales. However, this paragraph does
 1623  not limit the ability of the office or the department to
 1624  investigate and enforce, including investigate, the provisions
 1625  of this section.
 1626         2. Subparagraph 1. does not limit the insurer’s obligation
 1627  to comply with subparagraph (c)1., although the insurer may base
 1628  its analysis on information received from either the financial
 1629  professional or the entity supervising the financial
 1630  professional.
 1631         3. For subparagraph 1. this paragraph to apply, an insurer
 1632  must:
 1633         a.1. Monitor relevant conduct of the financial professional
 1634  seeking to rely on subparagraph 1. or the entity responsible for
 1635  supervising the financial professional, such as the financial
 1636  professional’s broker-dealer or an investment adviser registered
 1637  under federal or state securities law, the FINRA member broker
 1638  dealer using information collected in the normal course of an
 1639  insurer’s business; and
 1640         b.2. Provide to the entity responsible for supervising the
 1641  financial professional seeking to rely on subparagraph 1., such
 1642  as the financial professional’s broker-dealer or investment
 1643  adviser registered under federal or state securities laws, FINRA
 1644  member broker-dealer information and reports that are reasonably
 1645  appropriate to assist such entity the FINRA member broker-dealer
 1646  in maintaining its supervision system.
 1647         4. For purposes of this paragraph, the term:
 1648         a. “Comparable standards” means:
 1649         (I) With respect to broker-dealers and registered
 1650  representatives of broker-dealers, applicable SEC and FINRA
 1651  rules pertaining to best interest obligations and supervision of
 1652  annuity recommendations and sales, including, but not limited
 1653  to, Regulation Best Interest, 17 C.F.R. s. 240.15l–1, and any
 1654  amendments or successor regulations thereto;
 1655         (II) With respect to investment advisers registered under
 1656  federal or state securities laws or investment adviser
 1657  representatives, the fiduciary duties and all other requirements
 1658  imposed on such investment advisers or investment adviser
 1659  representatives by contract or under the Investment Advisers Act
 1660  of 1940 or applicable state securities laws, including, but not
 1661  limited to, Form ADV and interpretations; and
 1662         (III) With respect to plan fiduciaries or fiduciaries, the
 1663  duties, obligations, prohibitions, and all other requirements
 1664  attendant to such status under the Employee Retirement Income
 1665  Security Act of 1974 or the Internal Revenue Code and any
 1666  amendments or successor statutes thereto.
 1667         b. “Financial professional” means an agent that is
 1668  regulated and acting as:
 1669         (I) A broker-dealer registered under federal or state
 1670  securities laws or a registered representative of a broker
 1671  dealer;
 1672         (II) An investment adviser registered under federal or
 1673  state securities laws or an investment adviser representative
 1674  associated with the federal or state registered investment
 1675  adviser; or
 1676         (III) A plan fiduciary under s. 3(21) of the Employee
 1677  Retirement Income Security Act of 1974 or fiduciary under s.
 1678  4975(e)(3) of the Internal Revenue Code or any amendments or
 1679  successor statutes thereto.
 1680         (6) AGENT TRAINING.—
 1681         (a) An agent shall not solicit the sale of an annuity
 1682  product unless the agent has adequate knowledge of the product
 1683  to recommend the annuity and the agent is in compliance with the
 1684  insurer’s standards for product training. An agent may rely on
 1685  insurer-provided, product-specific training standards and
 1686  materials to comply with this subsection.
 1687         (b)1.a. An agent who engages in the sale of annuity
 1688  products shall complete a one-time 4-hour training course. This
 1689  requirement is not part of an agent’s continuing education
 1690  requirement in s. 626.2815; however, if a course provider
 1691  submits and receives approval from the department, the course is
 1692  eligible for continuing education credit pursuant to s.
 1693  626.2815.
 1694         b. Agents who hold a life insurance line of authority on
 1695  January 1, 2024, and who desire to sell annuities shall complete
 1696  the requirements of this subsection by July 1, 2024. Individuals
 1697  who obtain a life insurance line of authority after January 1,
 1698  2024, may not engage in the sale of annuities until the annuity
 1699  training course required under this subsection has been
 1700  completed.
 1701         2. The minimum length of the training required under this
 1702  subsection is 4 hours.
 1703         3. The training required under this subsection shall
 1704  include information on the following topics:
 1705         a. The types of annuities and various classifications of
 1706  annuities.
 1707         b. Identification of the parties to an annuity.
 1708         c. How product-specific annuity contract features affect
 1709  consumers.
 1710         d. The application of income taxation of qualified and
 1711  nonqualified annuities.
 1712         e.The primary uses of annuities.
 1713         f. The appropriate standard of conduct, sales practices,
 1714  replacement, and disclosure requirements.
 1715         4. Providers of courses intended to comply with this
 1716  subsection shall cover all topics listed in the prescribed
 1717  outline and shall not present any marketing information or
 1718  provide training on sales techniques or provide specific
 1719  information about a particular insurer’s products. Additional
 1720  topics may be offered in conjunction with and in addition to the
 1721  required outline.
 1722         5. An agent who has completed an annuity training course
 1723  before January 1, 2024, shall, by July 1, 2024, complete either:
 1724         a. A new 4-hour training course; or
 1725         b. An additional 1-hour training course on appropriate
 1726  sales practices, replacement, and disclosure requirements under
 1727  this section.
 1728         6. Annuity training courses may be conducted and completed
 1729  by classroom or self-study methods.
 1730         7. Providers of annuity training shall issue certificates
 1731  of completion.
 1732         8. The satisfaction of the training requirements of another
 1733  state that are substantially similar to the provisions of this
 1734  subsection shall be deemed to satisfy the training requirements
 1735  of this subsection in this state.
 1736         9. The satisfaction of the training requirements of any
 1737  course or courses with components substantially similar to the
 1738  provisions of this subsection shall be deemed to satisfy the
 1739  training requirements of this subsection in this state.
 1740         10. An insurer shall verify that an agent has completed the
 1741  annuity training course required under this subsection before
 1742  allowing the agent to sell an annuity product for that insurer.
 1743         (7)(6) RECORDKEEPING.—
 1744         (a) Insurers and agents must maintain or be able to make
 1745  available to the office or department records of the information
 1746  collected from the consumer and other information used in making
 1747  the recommendations that were the basis for insurance
 1748  transactions for 5 years after the insurance transaction is
 1749  completed by the insurer. An insurer may maintain the
 1750  documentation on behalf of its agent.
 1751         (b) Records required to be maintained under this subsection
 1752  may be maintained in paper, photographic, microprocess,
 1753  magnetic, mechanical, or electronic media, or by any process
 1754  that accurately reproduces the actual document.
 1755         (8)(7) COMPLIANCE MITIGATION; PENALTIES.—
 1756         (a) An insurer is responsible for compliance with this
 1757  section. If a violation occurs because of the action or inaction
 1758  of the insurer or its agent which results in harm to a consumer,
 1759  the office may order the insurer to take reasonably appropriate
 1760  corrective action for the consumer and may impose appropriate
 1761  penalties and sanctions.
 1762         (b) The department may order:
 1763         1. An insurance agent to take reasonably appropriate
 1764  corrective action for a consumer harmed by a violation of this
 1765  section by the insurance agent, including monetary restitution
 1766  of penalties or fees incurred by the consumer, and impose
 1767  appropriate penalties and sanctions.
 1768         2. A managing general agency or insurance agency that
 1769  employs or contracts with an insurance agent to sell or solicit
 1770  the sale of annuities to consumers to take reasonably
 1771  appropriate corrective action for a consumer harmed by a
 1772  violation of this section by the insurance agent.
 1773         (c) In addition to any other penalty authorized under
 1774  chapter 626, the department shall order an insurance agent to
 1775  pay restitution to a consumer who has been deprived of money by
 1776  the agent’s misappropriation, conversion, or unlawful
 1777  withholding of moneys belonging to the consumer in the course of
 1778  a transaction involving annuities. The amount of restitution
 1779  required to be paid may not exceed the amount misappropriated,
 1780  converted, or unlawfully withheld. This paragraph does not limit
 1781  or restrict a person’s right to seek other remedies as provided
 1782  by law.
 1783         (d) Any applicable penalty under the Florida Insurance Code
 1784  for a violation of this section shall be reduced or eliminated
 1785  according to a schedule adopted by the office or the department,
 1786  as appropriate, if corrective action for the consumer was taken
 1787  promptly after a violation was discovered.
 1788         (e) A violation of this section does not create or imply a
 1789  private cause of action.
 1790         (9)(8) PROHIBITED CHARGES.—An annuity contract issued to a
 1791  senior consumer age 65 or older may not contain a surrender or
 1792  deferred sales charge for a withdrawal of money from an annuity
 1793  exceeding 10 percent of the amount withdrawn. The charge shall
 1794  be reduced so that no surrender or deferred sales charge exists
 1795  after the end of the 10th policy year or 10 years after the date
 1796  of each premium payment if multiple premiums are paid, whichever
 1797  is later. This subsection does not apply to annuities purchased
 1798  by an accredited investor, as defined in Regulation D as adopted
 1799  by the United States Securities and Exchange Commission, or to
 1800  those annuities specified in paragraph (4)(b).
 1801         (10)(9) RULES.—The department and the commission may adopt
 1802  rules to administer this section. The department may adopt by
 1803  rule the forms prescribed in the National Association of
 1804  Insurance Commissioners Suitability in Annuity Transactions
 1805  Model Regulation Appendix A - Insurance Agent (Producer)
 1806  Disclosure for Annuities, Appendix B - Consumer Refusal to
 1807  Provide Information, and Appendix C - Consumer Decision to
 1808  Purchase an Annuity Not Based on a Recommendation.
 1809         Section 18. Paragraph (b) of subsection (8) of section
 1810  634.041, Florida Statutes, is amended to read:
 1811         634.041 Qualifications for license.—To qualify for and hold
 1812  a license to issue service agreements in this state, a service
 1813  agreement company must be in compliance with this part, with
 1814  applicable rules of the commission, with related sections of the
 1815  Florida Insurance Code, and with its charter powers and must
 1816  comply with the following:
 1817         (8)
 1818         (b) A service agreement company does not have to establish
 1819  and maintain an unearned premium reserve if it secures and
 1820  maintains contractual liability insurance in accordance with the
 1821  following:
 1822         1. Coverage of 100 percent of the claim exposure is
 1823  obtained from an insurer approved by the office, which holds a
 1824  certificate of authority under s. 624.401 to do business within
 1825  this state, or secured through a risk retention group, which is
 1826  authorized to do business within this state under s. 627.943 or
 1827  s. 627.944. Such insurer or risk retention group must maintain a
 1828  surplus as regards policyholders of at least $15 million.
 1829         2. If the service agreement company does not meet its
 1830  contractual obligations, the contractual liability insurance
 1831  policy binds its issuer to pay or cause to be paid to the
 1832  service agreement holder all legitimate claims and cancellation
 1833  refunds for all service agreements issued by the service
 1834  agreement company while the policy was in effect. This
 1835  requirement also applies to those service agreements for which
 1836  no premium has been remitted to the insurer.
 1837         3. If the issuer of the contractual liability policy is
 1838  fulfilling the service agreements covered by the contractual
 1839  liability policy and the service agreement holder cancels the
 1840  service agreement, the issuer must make a full refund of
 1841  unearned premium to the consumer, subject to the cancellation
 1842  fee provisions of s. 634.121(3). The sales representative and
 1843  agent must refund to the contractual liability policy issuer
 1844  their unearned pro rata commission.
 1845         4. The policy may not be canceled, terminated, or
 1846  nonrenewed by the insurer or the service agreement company
 1847  unless a 90-day written notice thereof has been given to the
 1848  office by the insurer before the date of the cancellation,
 1849  termination, or nonrenewal.
 1850         5. The service agreement company must provide the office
 1851  with the claims statistics.
 1852         6. A policy issued in compliance with this paragraph may
 1853  either pay 100 percent of claims as they are incurred, or 100
 1854  percent of claims due in the event of the failure of the service
 1855  agreement company to pay such claims when due.
 1856  
 1857  All funds or premiums remitted to an insurer by a motor vehicle
 1858  service agreement company under this part shall remain in the
 1859  care, custody, and control of the insurer and shall be counted
 1860  as an asset of the insurer; provided, however, this requirement
 1861  does not apply when the insurer and the motor vehicle service
 1862  agreement company are affiliated companies and members of an
 1863  insurance holding company system. If the motor vehicle service
 1864  agreement company chooses to comply with this paragraph but also
 1865  maintains a reserve to pay claims, such reserve shall only be
 1866  considered an asset of the covered motor vehicle service
 1867  agreement company and may not be simultaneously counted as an
 1868  asset of any other entity.
 1869         Section 19. Paragraphs (d), (e), and (f) of subsection (17)
 1870  of section 634.401, Florida Statutes, are amended to read:
 1871         634.401 Definitions.—As used in this part, the term:
 1872         (17) “Manufacturer” means any entity or its affiliate
 1873  which:
 1874         (d)Maintains outstanding debt obligations, if any, rated
 1875  in the top four rating categories by a recognized rating
 1876  service;
 1877         (d)(e) Has and maintains at all times, a minimum net worth
 1878  of at least $100 $10 million as evidenced by certified financial
 1879  statements prepared by an independent certified public
 1880  accountant in accordance with generally accepted accounting
 1881  principles; and
 1882         (e)(f) Is authorized to do business in this state.
 1883         Section 20. Paragraph (a) of subsection (7) of section
 1884  634.406, Florida Statutes, is amended to read:
 1885         634.406 Financial requirements.—
 1886         (7) An association licensed under this part and holding no
 1887  other license under part I or part II of this chapter is not
 1888  required to establish an unearned premium reserve or maintain
 1889  contractual liability insurance and may allow its premiums to
 1890  exceed the ratio to net assets limitation of this section if the
 1891  association complies with the following:
 1892         (a) The association or, if the association is a direct or
 1893  indirect wholly owned subsidiary of a parent corporation, its
 1894  parent corporation has, and maintains at all times, a minimum
 1895  net worth of at least $100 million and provides the office with
 1896  the following:
 1897         1. A copy of the association’s annual audited financial
 1898  statements or the audited consolidated financial statements of
 1899  the association’s parent corporation, prepared by an independent
 1900  certified public accountant in accordance with generally
 1901  accepted accounting principles, which clearly demonstrate the
 1902  net worth of the association or its parent corporation to be
 1903  $100 million and a quarterly written certification to the office
 1904  that such entity continues to maintain the net worth required
 1905  under this paragraph.
 1906         2. The association’s, or its parent corporation’s, Form 10
 1907  K, Form 10-Q, or Form 20-F as filed with the United States
 1908  Securities and Exchange Commission or such other documents
 1909  required to be filed with a recognized stock exchange, which
 1910  shall be provided on a quarterly and annual basis within 10 days
 1911  after the last date each such report must be filed with the
 1912  Securities and Exchange Commission, the National Association of
 1913  Security Dealers Automated Quotation system, or other recognized
 1914  stock exchange.
 1915  
 1916  Failure to timely file the documents required under this
 1917  paragraph may, at the discretion of the office, subject the
 1918  association to suspension or revocation of its license under
 1919  this part. An association or parent corporation demonstrating
 1920  compliance with subparagraphs 1. and 2. must maintain
 1921  outstanding debt obligations, if any, rated in the top four
 1922  rating categories by a recognized rating service.
 1923         Section 21. Except as otherwise expressly provided in this
 1924  act, this act shall take effect July 1, 2023.
 1925  
 1926  ================= T I T L E  A M E N D M E N T ================
 1927  And the title is amended as follows:
 1928         Delete everything before the enacting clause
 1929  and insert:
 1930                        A bill to be entitled                      
 1931         An act relating to consumer protection; amending s.
 1932         494.001, F.S.; revising the definition of the term
 1933         “branch office”; defining the term “remote location”;
 1934         authorizing a licensee under ch. 494, F.S., to allow
 1935         loan originators to work from remote locations if
 1936         specified conditions are met; amending s. 494.0067,
 1937         F.S.; specifying that mortgage lenders may transact
 1938         business from branch offices and remote locations;
 1939         providing a requirement for operating remote
 1940         locations; creating s. 501.2042, F.S.; defining terms;
 1941         providing requirements for organizers of crowd-funding
 1942         campaigns related to disasters and for crowd-funding
 1943         platforms; amending s. 520.23, F.S.; revising
 1944         disclosure requirements for agreements governing the
 1945         sale or lease of a distributed energy generation
 1946         system; amending s. 560.111, F.S.; providing a
 1947         criminal penalty; amending s. 560.309, F.S.;
 1948         prohibiting a licensee under ch. 560, F.S., from
 1949         cashing corporate checks for certain payees where the
 1950         aggregate face amount exceeds a specified amount;
 1951         amending s. 626.551, F.S.; revising the timeframe in
 1952         which an insurance representative must notify the
 1953         Department of Financial Services of certain changes in
 1954         information; amending s. 626.602, F.S.; providing
 1955         applicability of provisions relating to the
 1956         disapproval of insurance agency names to adjusting
 1957         firm names; revising grounds on which such names may
 1958         be disapproved by the department; deleting an obsolete
 1959         provision; amending s. 626.854, F.S.; revising the
 1960         definition of the term “public adjuster”; prohibiting
 1961         public adjusters from contracting with anyone other
 1962         than the named insured without the insured’s written
 1963         consent; specifying a penalty for noncompliance;
 1964         specifying timeframes in which an insured or a
 1965         claimant may cancel a public adjuster’s contract
 1966         without penalty or contract under certain
 1967         circumstances; revising requirements for public
 1968         adjusters’ contracts; specifying requirements for
 1969         public adjusters if the insurer, within a certain
 1970         timeframe, pays or commits in writing to pay to the
 1971         insured the policy limit of the policy; specifying
 1972         limitations on commissions received by public
 1973         adjusters; amending s. 626.860, F.S.; providing that
 1974         an attorney’s exemption from public adjuster licensure
 1975         requirements does not apply to certain persons;
 1976         amending s. 626.875, F.S.; revising recordkeeping
 1977         requirements for appointed independent adjusters and
 1978         licensed public adjusters; amending s. 626.8796, F.S.;
 1979         revising requirements for public adjuster contracts;
 1980         specifying requirements for and prohibitions on public
 1981         adjusters relating to such contracts; providing
 1982         construction; authorizing the department to adopt
 1983         rules; amending s. 626.8797, F.S.; revising a fraud
 1984         statement requirement in proof-of-loss statements;
 1985         amending s. 626.9541, F.S.; adding an unfair or
 1986         deceptive insurance act relating to health insurance
 1987         policies; amending s. 627.4025, F.S.; revising the
 1988         definition of the term “hurricane,” and defining the
 1989         term “hurricane deductible,” as used in policies
 1990         providing residential coverage; amending s. 627.4133,
 1991         F.S.; revising conditions that apply to a specified
 1992         notice requirement for, and a limitation on, the
 1993         cancellation or termination of certain insurance
 1994         policies; amending s. 627.4554, F.S.; revising
 1995         legislative purpose; revising applicability; revising
 1996         and defining terms; revising and specifying duties of
 1997         insurers and agents relating to the recommendation and
 1998         sale of annuity investments; specifying comparable
 1999         standards that comply with such requirements;
 2000         specifying agent training requirements; providing and
 2001         revising construction; authorizing the department to
 2002         adopt certain forms by rule; amending s. 634.041,
 2003         F.S.; specifying authorized methods of paying claims
 2004         for motor vehicle service agreements; amending s.
 2005         634.401, F.S.; revising the definition of the term
 2006         “manufacturer” for purposes of part III of ch. 634,
 2007         F.S.; amending s. 634.406, F.S.; deleting a debt
 2008         obligation rating requirement for certain service
 2009         warranty associations or parent corporations;
 2010         providing effective dates.