Bill Amendment: FL S0810 | 2013 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Wrap-up Insurance Policies

Status: 2013-06-17 - Chapter No. 2013-175 [S0810 Detail]

Download: Florida-2013-S0810-Senate_Floor_Amendment_134320.html

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       Florida Senate - 2013                          SENATOR AMENDMENT
       Bill No. CS for CS for SB 810
       
       
       
       
       
       
                                Barcode 134320                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                                       .                                
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                 Floor: WD/3R          .                                
             04/11/2013 02:52 PM       .                                
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       Senator Simpson moved the following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Between lines 56 and 57
    4  insert:
    5         Section 2. Paragraph (b) of subsection (1) of section
    6  627.706, Florida Statutes, is amended to read:
    7         627.706 Sinkhole insurance; catastrophic ground cover
    8  collapse; definitions.—
    9         (1)
   10         (b) The insurer shall make available, for an appropriate
   11  additional premium, coverage for sinkhole losses on any
   12  structure, including the contents of personal property contained
   13  therein, in an amount equal to the full amount of coverage on
   14  the structure. The insurer may also offer less coverage equal to
   15  25 or 50 percent of the amount of coverage on the structure,
   16  with an appropriate reduction in the additional premium to the
   17  extent provided in the form to which the coverage attaches. The
   18  insurer may require an inspection of the property before
   19  issuance of sinkhole loss coverage. A policy for residential
   20  property insurance may include a deductible amount applicable to
   21  sinkhole losses equal to 1 percent, 2 percent, 5 percent, or 10
   22  percent of the policy dwelling limits, with appropriate premium
   23  discounts offered with each deductible amount.
   24  
   25  ================= T I T L E  A M E N D M E N T ================
   26         And the title is amended as follows:
   27         Delete lines 2 - 7
   28  and insert:
   29         An act relating to insurance coverage; creating s.
   30         627.4138, F.S.; providing definitions; providing that
   31         wrap-up insurance policies may include workers’
   32         compensation claim deductibles equal to or greater
   33         than a specified amount if specified standards are
   34         met; providing an effective date.are met; amending s.
   35         627.706, F.S.; authorizing an insurer to offer a
   36         reduced amount of sinkhole coverage with an
   37         appropriate reduction in premium; providing an
   38         effective date.