Amendment
Bill No. 7225
Amendment No. 517689
CHAMBER ACTION
Senate House
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1Representative Johnson offered the following:
2
3     Amendment to Amendment (074037) (with title amendment)
4Between lines 3862-3863, insert:
5     Section 20.  Subsection (1) of section 627.702, Florida
6Statutes, is amended to read:
7     627.702  Valued policy law.--
8     (1)(a)  In the event of the total loss of any building,
9structure, mobile home as defined in s. 320.01(2), or
10manufactured building as defined in s. 553.36(12), located in
11this state and insured by any insurer as to a covered peril, in
12the absence of any change increasing the risk without the
13insurer's consent and in the absence of fraudulent or criminal
14fault on the part of the insured or one acting in her or his
15behalf, the insurer's liability, if any, under the policy for
16such total loss, if caused by a covered peril, shall be in the
17amount of money for which such property was so insured as
18specified in the policy and for which a premium has been charged
19and paid.
20     (b)  The intent of this subsection is not to deprive an
21insurer of any proper defense under the policy, to create new or
22additional coverage under the policy, or to require an insurer
23to pay for a loss caused by a peril other than the covered
24peril. In furtherance of such legislative intent, when a loss
25was caused in part by a covered peril and in part by a
26noncovered peril, paragraph (a) does not apply. In such
27circumstances, the insurer's liability under this section shall
28be limited to the amount of the loss caused by the covered
29peril. However, if the covered perils alone would have caused
30the total loss, paragraph (a) shall apply. The insurer is never
31liable for more than the amount necessary to repair, rebuild, or
32replace the structure following the total loss, after
33considering all other benefits actually paid for the total loss.
34     (c)  It is the intent of the Legislature that the amendment
35to this section shall not be applied retroactively and shall
36apply only to claims filed after the effective date of such
37amendment.
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39======== T I T L E  A M E N D M E N T ========
40     Remove line 4740 and insert:
41emergency rules; amending s. 627.702, F.S.; revising a
42provision relating to insurer's liability; revising
43legislative intent; amending s. 627.706, F.S.; providing a


CODING: Words stricken are deletions; words underlined are additions.