Bill Amendment: FL S1094 | 2015 | Regular Session

NOTE: For additional amemendments please see the Bill Drafting List

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Bill Title: Peril of Flood

Status: 2015-05-22 - Chapter No. 2015-69 [S1094 Detail]

Download: Florida-2015-S1094-Senate_Committee_Amendment_748102.html

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       Florida Senate - 2015                        COMMITTEE AMENDMENT
       Bill No. SB 1094
       
       
       
       
       
       
                                Ì748102sÎ748102                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
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       The Committee on Banking and Insurance (Lee) recommended the
       following:
       
    1         Senate Amendment (with title amendment)
    2  
    3         Delete lines 245 - 256
    4  and insert:
    5         (11)(a) An authorized insurer offering flood insurance may
    6  request the office to certify that a policy, contract, or
    7  endorsement provides coverage for the peril of flood which
    8  equals or exceeds the flood coverage offered by the National
    9  Flood Insurance Program. To be eligible for certification, such
   10  policy, contract, or endorsement must contain a provision
   11  stating that it meets the private flood insurance requirements
   12  specified in 42 U.S.C. s. 4012a(b) and may not contain any
   13  provision that is not in compliance with 42 U.S.C. s. 4012a(b).
   14         (b) The authorized insurer or its agent may reference or
   15  include a certification under paragraph (a) in advertising or
   16  communications with an agent, a lending institution, an insured,
   17  or a potential insured only for a policy, contract, or
   18  endorsement that is certified under this subsection. The
   19  authorized insurer may include a statement that notifies an
   20  insured of the certification on the declarations page or other
   21  policy documentation related to flood coverage certified under
   22  this subsection.
   23         (c) An insurer or agent who knowingly misrepresents that a
   24  flood policy, contract, or endorsement is certified under this
   25  subsection commits an unfair or deceptive act under s. 626.9541.
   26  
   27  ================= T I T L E  A M E N D M E N T ================
   28  And the title is amended as follows:
   29         Delete lines 40 - 42
   30  and insert:
   31         Program; specifying requirements for such
   32         certification; authorizing such insurer or its agent
   33         to reference or include the certification in specified
   34         advertising, communications, and documentation;
   35         providing that misrepresenting that a flood policy,
   36         contract, or endorsement is certified is an unfair or
   37         deceptive act;