HB 941

A bill to be entitled
2An act relating to commercial lines insurance
3policies; amending s. 627.4133, F.S.; authorizing an
4insurer to transfer a commercial lines policy under
5certain circumstances; providing construction;
6providing an effective date.
8Be It Enacted by the Legislature of the State of Florida:
10     Section 1.  Subsection (8) is added to section 627.4133,
11Florida Statutes, to read:
12     627.4133  Notice of cancellation, nonrenewal, or renewal
14     (8)  An insurer issuing a commercial lines policy, may, at
15the expiration of the policy term, transfer the policy to
16another authorized insurer under the same direct or indirect
17ownership, management, or control as the transferring insurer.
18The transfer constitutes a renewal of the policy and may not be
19treated as a cancellation or a nonrenewal of the policy.
20     Section 2.  This act shall take effect July 1, 2012.

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