Florida Senate - 2023                        COMMITTEE AMENDMENT
       Bill No. CS for SB 1398
       
       
       
       
       
       
                                Ì932278EÎ932278                         
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: RCS            .                                
                  04/19/2023           .                                
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       The Appropriations Committee on Agriculture, Environment, and
       General Government (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 or documents, including a cloud
   44  based system, directly from any out-of-office device such as a
   45  laptop, phone, desktop computer, or tablet, through a virtual
   46  private network or system that ensures secure connectivity and
   47  that requires passwords or other forms of authentication to
   48  access.
   49         (g)The licensee ensures that appropriate security updates,
   50  patches, or other alterations to the security of all devices
   51  used at remote locations are installed and maintained.
   52         (h)The licensee is able to remotely lock or erase company
   53  related contents of any device or otherwise remotely limit all
   54  access to a company’s secure systems.
   55         (i)The registry’s record of a loan originator who works
   56  from a remote location designates the principal place of
   57  business as the loan originator’s registered location, or the
   58  loan originator has elected a licensed branch office as a
   59  registered location.
   60         Section 2. Subsection (1) of section 494.0067, Florida
   61  Statutes, is amended to read:
   62         494.0067 Requirements of mortgage lenders.—
   63         (1) A mortgage lender that makes mortgage loans on real
   64  estate in this state shall transact business from a principal
   65  place of business, branch office, or remote location. Each
   66  principal place of business, and each branch office, and remote
   67  location shall be operated under the full charge, control, and
   68  supervision of the licensee pursuant to this part.
   69         Section 3. Section 501.2042, Florida Statutes, is created
   70  to read:
   71         501.2042Unlawful acts and practices by online crowd
   72  funding campaigns.—
   73         (1)As used in this section, the term:
   74         (a)“Crowd-funding campaign” means an online fundraising
   75  initiative that is intended to receive monetary donations from
   76  donors and is created by an organizer in the interest of a
   77  beneficiary.
   78         (b)“Crowd-funding platform” means an entity doing business
   79  in this state which provides an online medium for the creation
   80  and facilitation of a crowd-funding campaign.
   81         (c)“Disaster” has the same meaning as in s. 252.34(2).
   82         (d)“Organizer” means a person who:
   83         1.Resides or is domiciled in this state; and
   84         2.Has an account on a crowd-funding platform and has
   85  created a crowd-funding campaign either as a beneficiary or on
   86  behalf of a beneficiary, regardless of whether the beneficiary
   87  or the crowd-funding campaign has received donations.
   88         (2)For crowd-funding campaigns related to and arising out
   89  of a declared disaster, a crowd-funding platform must:
   90         (a)Collect and retain, for one year after the date of the
   91  declared disaster, the name, e-mail address, phone number, and
   92  state of residence of the organizer.
   93         (b)Require the organizer to indicate, on the crowd-funding
   94  campaign, the state in which they are located.
   95         (c)Cooperate with any investigation by or in partnership
   96  with law enforcement.
   97         (d)Clearly display and direct donors to fundraisers that
   98  comply with the crowd-funding platform’s terms of service.
   99         (3)When an organizer arranges a crowd-funding campaign
  100  related to and arising out of a declared disaster, the organizer
  101  must attest that:
  102         (a)All information provided in connection with a crowd
  103  funding campaign is accurate, complete, and not likely to
  104  deceive users.
  105         (b)All donations contributed to the crowd-funding campaign
  106  will be used solely as described in the materials the organizer
  107  posts or provides on the crowd-funding platform.
  108         Section 4. Section 520.23, Florida Statutes, is amended to
  109  read:
  110         520.23 Disclosures required.—Each agreement governing the
  111  sale or lease of a distributed energy generation system shall,
  112  at a minimum, include a written statement printed in at least
  113  12-point type that is separate from the agreement, is separately
  114  acknowledged by the buyer or lessee, and includes the following
  115  information and disclosures, if applicable:
  116         (1) The name, address, telephone number, and e-mail address
  117  of the buyer or lessee.
  118         (2) The name, address, telephone number, e-mail address,
  119  and valid state contractor license number of the person
  120  responsible for installing the distributed energy generation
  121  system.
  122         (3) The name, address, telephone number, e-mail address,
  123  and valid state contractor license number of the distributed
  124  energy generation system maintenance provider, if different from
  125  the person responsible for installing the distributed energy
  126  generation system.
  127         (4)The customer contact center phone number for the
  128  Department of Business and Professional Regulation.
  129         (5)(4) A written statement indicating whether the
  130  distributed energy generation system is being purchased or
  131  leased.
  132         (a) If the distributed energy generation system will be
  133  leased, the written statement must include a disclosure in
  134  substantially the following form: “You are entering into an
  135  agreement to lease a distributed energy generation system. You
  136  will lease (not own) the system installed on your property.”
  137         (b) If the distributed energy generation system will be
  138  purchased, the written statement must include a disclosure in
  139  substantially the following form: “You are entering into an
  140  agreement to purchase a distributed energy generation system.
  141  You will own (not lease) the system installed on your property.”
  142         (6)(5) The total cost to be paid by the buyer or lessee,
  143  including any interest, installation fees, document preparation
  144  fees, service fees, or other fees.
  145         (7)(6) A payment schedule, including any amounts owed at
  146  contract signing, at the commencement of installation, at the
  147  completion of installation, and any final payments. If the
  148  distributed energy generation system is being leased, the
  149  written statement must include the frequency and amount of each
  150  payment due under the lease and the total estimated lease
  151  payments over the term of the lease.
  152         (8)(7) Each state or federal tax incentive or rebate, if
  153  any, relied upon by the seller in determining the price of the
  154  distributed energy generation system.
  155         (9)(8) A description of the assumptions used to calculate
  156  any savings estimates provided to the buyer or lessee, and if
  157  such estimates are provided, a statement in substantially the
  158  following form: “It is important to understand that future
  159  electric utility rates are estimates only. Your future electric
  160  utility rates may vary.”
  161         (10)(9) A description of any one-time or recurring fees,
  162  including, but not limited to, estimated system removal fees,
  163  maintenance fees, Internet connection fees, and automated
  164  clearinghouse fees. If late fees may apply, the description must
  165  describe the circumstances triggering such late fees.
  166         (11)(10) A statement notifying the buyer whether the
  167  distributed energy generation system is being financed and, if
  168  so, a statement in substantially the following form: “If your
  169  system is financed, carefully read any agreements and/or
  170  disclosure forms provided by your lender. This statement does
  171  not contain the terms of your financing agreement. If you have
  172  any questions about your financing agreement, contact your
  173  finance provider before signing a contract.”
  174         (12)(11) A statement notifying the buyer whether the seller
  175  is assisting in arranging financing of the distributed energy
  176  generation system and, if so, a statement in substantially the
  177  following form: “If your system is financed, carefully read any
  178  agreements and/or disclosure forms provided by your lender. This
  179  statement does not contain the terms of your financing
  180  agreement. If you have any questions about your financing
  181  agreement, contact your finance provider before signing a
  182  contract.”
  183         (13)(12) A provision notifying the buyer or lessee of the
  184  right to rescind the agreement for a period of at least 3
  185  business days after the agreement is signed. This subsection
  186  does not apply to a contract to sell or lease a distributed
  187  energy generation system in a solar community in which the
  188  entire community has been marketed as a solar community and all
  189  of the homes in the community are intended to have a distributed
  190  energy generation system, or a solar community in which the
  191  developer has incorporated solar technology for purposes of
  192  meeting the Florida Building Code in s. 553.73.
  193         (14)(13) A description of the distributed energy generation
  194  system design assumptions, including the make and model of the
  195  major components, system size, estimated first-year energy
  196  production, and estimated annual energy production decreases,
  197  including the overall percentage degradation over the estimated
  198  life of the distributed energy generation system, and the status
  199  of utility compensation for excess energy generated by the
  200  system at the time of contract signing. A seller who provides a
  201  warranty or guarantee of the energy production output of the
  202  distributed energy generation system may provide a description
  203  of such warranty or guarantee in lieu of a description of the
  204  system design and components.
  205         (15)(14) A description of any performance or production
  206  guarantees.
  207         (16)(15) A description of the ownership and transferability
  208  of any tax credits, rebates, incentives, or renewable energy
  209  certificates associated with the distributed energy generation
  210  system, including a disclosure as to whether the seller will
  211  assign or sell any associated renewable energy certificates to a
  212  third party.
  213         (17)(16) A statement in substantially the following form:
  214  “You are responsible for property taxes on property you own.
  215  Consult a tax professional to understand any tax liability or
  216  eligibility for any tax credits that may result from the
  217  purchase of your distributed energy generation system.”
  218         (18)(17) The approximate start and completion dates for the
  219  installation of the distributed energy generation system.
  220         (19)(18) A disclosure as to whether maintenance and repairs
  221  of the distributed energy generation system are included in the
  222  purchase price.
  223         (20)(19) A disclosure as to whether any warranty or
  224  maintenance obligations related to the distributed energy
  225  generation system may be sold or transferred by the seller to a
  226  third party and, if so, a statement in substantially the
  227  following form: “Your contract may be assigned, sold, or
  228  transferred without your consent to a third party who will be
  229  bound to all the terms of the contract. If a transfer occurs,
  230  you will be notified if this will change the address or phone
  231  number to use for system maintenance or repair requests.”
  232         (21)(20) If the distributed energy generation system will
  233  be purchased, a disclosure notifying the buyer of the
  234  requirements for interconnecting the system to the utility
  235  system.
  236         (22)(21) A disclosure notifying the buyer or lessee of the
  237  party responsible for obtaining interconnection approval.
  238         (23)(22) A description of any roof warranties.
  239         (24)A statement in substantially the following form: “You
  240  should consider the age and remaining life of your roof prior to
  241  installing a distributed energy generation system. Replacement
  242  of your roof may require reinstallment of the distributed energy
  243  generation system.”
  244         (25)(23) A disclosure notifying the lessee whether the
  245  seller will insure a leased distributed energy generation system
  246  against damage or loss and, if applicable, the circumstances
  247  under which the seller will not insure the system against damage
  248  or loss.
  249         (26)(24) A statement, if applicable, in substantially the
  250  following form: “You are responsible for obtaining insurance
  251  policies or coverage for any loss of or damage to the system.
  252  Consult an insurance professional to understand how to protect
  253  against the risk of loss or damage to the system.”
  254         (27)A statement in substantially the following form:
  255  “Placing a distributed energy generation system on your roof may
  256  impact your future insurance premiums. You are responsible for
  257  contacting your insurance carrier, prior to entering into a
  258  purchase or lease agreement, to confirm whether your current
  259  policy or coverage will need to be modified upon installing the
  260  distributed energy generation system onto your dwelling.”
  261         (28)(25) A disclosure notifying the buyer or lessee whether
  262  the seller or lessor will place a lien on the buyer’s or
  263  lessee’s home or other property as a result of entering into a
  264  purchase or lease agreement for the distributed energy
  265  generation system.
  266         (29)(26) A disclosure notifying the buyer or lessee whether
  267  the seller or lessor will file a fixture filing or a State of
  268  Florida Uniform Commercial Code Financing Statement Form (UCC-1)
  269  on the distributed energy generation system.
  270         (30)(27) A disclosure identifying whether the agreement
  271  contains any restrictions on the buyer’s or lessee’s ability to
  272  modify or transfer ownership of a distributed energy generation
  273  system, including whether any modification or transfer is
  274  subject to review or approval by a third party.
  275         (31)(28) A disclosure as to whether the lease agreement may
  276  be transferred to a purchaser upon sale of the home or real
  277  property to which the system is affixed, and any conditions for
  278  such transfer.
  279         (32)(29) A blank section that allows the seller to provide
  280  additional relevant disclosures or explain disclosures made
  281  elsewhere in the disclosure form.
  282  
  283  The requirement to provide a written statement under this
  284  section may be satisfied by the electronic delivery of a
  285  document within 24 hours after execution of the written
  286  statement containing the required statement if the intended
  287  recipient of the electronic document affirmatively acknowledges
  288  its receipt. An electronic document satisfies the font and other
  289  formatting standards required for the written statement if the
  290  format and the relative size of characters of the electronic
  291  document are reasonably similar to those required in the written
  292  document or if the information is otherwise displayed in a
  293  reasonably conspicuous manner.
  294         Section 5. Subsection (6) of section 560.111, Florida
  295  Statutes, is amended to read:
  296         560.111 Prohibited acts.—
  297         (6) A person who knowingly and willfully violates s.
  298  560.309(11) or s. 560.310(2)(d) commits a felony of the third
  299  degree, punishable as provided in s. 775.082, s. 775.083, or s.
  300  775.084.
  301         Section 6. Subsection (11) is added to section 560.309,
  302  Florida Statutes, to read:
  303         560.309 Conduct of business.—
  304         (11)A licensee may not cash corporate checks where the
  305  aggregate face amount of all corporate checks cashed for each
  306  payee exceeds 200 percent of the payee’s workers’ compensation
  307  policy payroll amount during the same dates as the workers’
  308  compensation policy coverage period.
  309         Section 7. Section 626.602, Florida Statutes, is amended to
  310  read:
  311         626.602 Insurance agency and adjusting firm names;
  312  disapproval.—The department may disapprove the use of any true
  313  or fictitious name, other than the bona fide natural name of an
  314  individual, by any insurance agency or adjusting firm on any of
  315  the following grounds:
  316         (1) The name interferes with or is too similar to a name
  317  already filed and in use by another agency, adjusting firm, or
  318  insurer.
  319         (2)The use of the name may mislead the public in any
  320  respect.
  321         (3) The name states or implies that the agency or adjusting
  322  firm is an insurer, motor club, hospital service plan, state or
  323  federal agency, charitable organization, or entity that
  324  primarily provides advice and counsel rather than sells or
  325  solicits insurance, settles claims, or is entitled to engage in
  326  insurance activities not permitted under licenses held or
  327  applied for. This provision does not prohibit the use of the
  328  word “state” or “states” in the name of the agency. The use of
  329  the word “state” or “states” in the name of an agency or
  330  adjusting firm does not in and of itself imply that the agency
  331  or adjusting firm is a state agency.
  332         (4) The name contains the word “Medicare” or “Medicaid.” An
  333  insurance agency whose name contains the word “Medicare” or
  334  “Medicaid” but which is licensed as of July 1, 2021, may
  335  continue to use that name until June 30, 2023, provided that the
  336  agency’s license remains valid. If the agency’s license expires
  337  or is suspended or revoked, the agency may not be relicensed
  338  using that name. Licenses for agencies with names containing
  339  either of these words automatically expire on July 1, 2023,
  340  unless these words are removed from the name.
  341         Section 8. Section 626.854, Florida Statutes, is amended to
  342  read:
  343         626.854 “Public adjuster” defined; prohibitions.—The
  344  Legislature finds that it is necessary for the protection of the
  345  public to regulate public insurance adjusters and to prevent the
  346  unauthorized practice of law.
  347         (1) A “public adjuster” is any person, except a duly
  348  licensed attorney at law as exempted under s. 626.860, who, for
  349  money, commission, or any other thing of value, directly or
  350  indirectly prepares, completes, or files an insurance claim for
  351  an insured or third-party claimant, regardless of how that
  352  person describes or presents his or her services, or who, for
  353  money, commission, or any other thing of value, acts on behalf
  354  of, or aids an insured or third-party claimant in negotiating
  355  for or effecting the settlement of a claim or claims for loss or
  356  damage covered by an insurance contract, regardless of how that
  357  person describes or presents his or her services, or who
  358  advertises for employment as an adjuster of such claims. The
  359  term also includes any person who, for money, commission, or any
  360  other thing of value, directly or indirectly solicits,
  361  investigates, or adjusts such claims on behalf of a public
  362  adjuster, an insured, or a third-party claimant. The term does
  363  not include a person who photographs or inventories damaged
  364  personal property or business personal property or a person
  365  performing duties under another professional license, if such
  366  person does not otherwise solicit, adjust, investigate, or
  367  negotiate for or attempt to effect the settlement of a claim.
  368         (2) This definition does not apply to:
  369         (a) A licensed health care provider or employee thereof who
  370  prepares or files a health insurance claim form on behalf of a
  371  patient.
  372         (b) A licensed health insurance agent who assists an
  373  insured with coverage questions, medical procedure coding
  374  issues, balance billing issues, understanding the claims filing
  375  process, or filing a claim, as such assistance relates to
  376  coverage under a health insurance policy.
  377         (c) A person who files a health claim on behalf of another
  378  and does so without compensation.
  379         (3) A public adjuster may not give legal advice or act on
  380  behalf of or aid any person in negotiating or settling a claim
  381  relating to bodily injury, death, or noneconomic damages.
  382         (4) For purposes of this section, the term “insured”
  383  includes only the policyholder and any beneficiaries named or
  384  similarly identified in the policy.
  385         (5) A public adjuster may not directly or indirectly
  386  through any other person or entity solicit an insured or
  387  claimant by any means except on Monday through Saturday of each
  388  week and only between the hours of 8 a.m. and 8 p.m. on those
  389  days.
  390         (6)When entering a contract for adjuster services after
  391  July 1, 2023, a public adjuster:
  392         (a)May not collect a fee for services on payments made to
  393  a named insured unless they have a written contract with the
  394  named insured or the named insured’s legal representative.
  395         (b)May not contract for services to be provided by a third
  396  party on behalf of the named insured or in pursuit of settlement
  397  of the named insureds claim, if the cost of those services is to
  398  be borne by the named insured, unless the named insured agrees
  399  in writing to procure these services and such agreement is
  400  entered into subsequent to the date of the contract for public
  401  adjusting services.
  402         (c)If a public adjuster contracts with a third-party
  403  service provider to assist with the settlement of the named
  404  insured’s claim, without first obtaining the insured’s written
  405  consent, payment of the third party’s fees must be made by the
  406  public adjuster and may not be charged back to the named
  407  insured.
  408         (d)If a public adjuster represents anyone other than the
  409  named insured in a claim, the public adjuster fees shall be paid
  410  by the third party and may not be charged back to the named
  411  insured.
  412         (7)(6) An insured or claimant may cancel a public
  413  adjuster’s contract to adjust a claim without penalty or
  414  obligation within 10 days after the date on which the contract
  415  is executed. If the contract was entered into based on events
  416  that are the subject of a declaration of a state of emergency by
  417  the Governor, an insured or claimant may cancel the public
  418  adjuster’s contract to adjust a claim without penalty or
  419  obligation within 30 days after the date of loss or 10 days
  420  after the date on which the contract is executed, whichever is
  421  longer. The public adjuster’s contract must contain the
  422  following language in minimum 18-point bold type immediately
  423  before the space reserved in the contract for the signature of
  424  the insured or claimant: “You, the insured, may cancel this
  425  contract for any reason without penalty or obligation to you
  426  within 10 days after the date of this contract. If this contract
  427  was entered into based on events that are the subject of a
  428  declaration of a state of emergency by the Governor, you may
  429  cancel this contract for any reason without penalty or
  430  obligation to you within 30 days after the date of loss or 10
  431  days after the date on which the contract is executed, whichever
  432  is longer. You may also cancel the contract without penalty or
  433  obligation to you if I, as your public adjuster, fail to provide
  434  you and your insurer a copy of a written estimate within 60 days
  435  of the execution of the contract, unless the failure to provide
  436  the estimate within 60 days is caused by factors beyond my
  437  control, in accordance with s. 626.854(14)(b), Florida Statutes.
  438  The 60-day cancellation period for failure to provide a written
  439  estimate shall cease on the date I have provided you with the
  440  written estimate.” The by providing notice of cancellation shall
  441  be provided to ...(name of public adjuster)..., submitted in
  442  writing and sent by certified mail, return receipt requested, or
  443  other form of mailing that provides proof thereof, at the
  444  address specified in the contract.
  445         (8)(7) It is an unfair and deceptive insurance trade
  446  practice pursuant to s. 626.9541 for a public adjuster or any
  447  other person to circulate or disseminate any advertisement,
  448  announcement, or statement containing any assertion,
  449  representation, or statement with respect to the business of
  450  insurance which is untrue, deceptive, or misleading.
  451         (a) The following statements, made in any public adjuster’s
  452  advertisement or solicitation, are considered deceptive or
  453  misleading:
  454         1. A statement or representation that invites an insured
  455  policyholder to submit a claim when the policyholder does not
  456  have covered damage to insured property.
  457         2. A statement or representation that invites an insured
  458  policyholder to submit a claim by offering monetary or other
  459  valuable inducement.
  460         3. A statement or representation that invites an insured
  461  policyholder to submit a claim by stating that there is “no
  462  risk” to the policyholder by submitting such claim.
  463         4. A statement or representation, or use of a logo or
  464  shield, that implies or could mistakenly be construed to imply
  465  that the solicitation was issued or distributed by a
  466  governmental agency or is sanctioned or endorsed by a
  467  governmental agency.
  468         (b) For purposes of this paragraph, the term “written
  469  advertisement” includes only newspapers, magazines, flyers, and
  470  bulk mailers. The following disclaimer, which is not required to
  471  be printed on standard size business cards, must be added in
  472  bold print and capital letters in typeface no smaller than the
  473  typeface of the body of the text to all written advertisements
  474  by a public adjuster:
  475  
  476         “THIS IS A SOLICITATION FOR BUSINESS. IF YOU HAVE HAD
  477         A CLAIM FOR AN INSURED PROPERTY LOSS OR DAMAGE AND YOU
  478         ARE SATISFIED WITH THE PAYMENT BY YOUR INSURER, YOU
  479         MAY DISREGARD THIS ADVERTISEMENT.”
  480  
  481         (9)(8) A public adjuster, a public adjuster apprentice, or
  482  any person or entity acting on behalf of a public adjuster or
  483  public adjuster apprentice may not give or offer to give a
  484  monetary loan or advance to a client or prospective client.
  485         (10)(9) A public adjuster, public adjuster apprentice, or
  486  any individual or entity acting on behalf of a public adjuster
  487  or public adjuster apprentice may not give or offer to give,
  488  directly or indirectly, any article of merchandise having a
  489  value in excess of $25 to any individual for the purpose of
  490  advertising or as an inducement to entering into a contract with
  491  a public adjuster.
  492         (10)(11)(a) If a public adjuster enters into a contract
  493  with an insured or claimant to reopen a claim or file a
  494  supplemental claim that seeks additional payments for a claim
  495  that has been previously paid in part or in full or settled by
  496  the insurer, the public adjuster may not charge, agree to, or
  497  accept from any source compensation, payment, commission, fee,
  498  or any other thing of value based on a previous settlement or
  499  previous claim payments by the insurer for the same cause of
  500  loss. The charge, compensation, payment, commission, fee, or any
  501  other thing of value must be based only on the claim payments or
  502  settlements paid to the insured, exclusive of attorney fees and
  503  costs, obtained through the work of the public adjuster after
  504  entering into the contract with the insured or claimant.
  505  Compensation for the reopened or supplemental claim may not
  506  exceed 20 percent of the reopened or supplemental claim payment.
  507  In no event shall the contracts described in this paragraph
  508  exceed the limitations in paragraph (b).
  509         (b) A public adjuster may not charge, agree to, or accept
  510  from any source compensation, payment, commission, fee, or any
  511  other thing of value in excess of:
  512         1. Ten percent of the amount of insurance claim payments or
  513  settlements, exclusive of attorney fees and costs, paid to the
  514  insured by the insurer for claims based on events that are the
  515  subject of a declaration of a state of emergency by the
  516  Governor. This provision applies to claims made during the year
  517  after the declaration of emergency. After that year, the
  518  limitations in subparagraph 2. apply.
  519         2. Twenty percent of the amount of insurance claim payments
  520  or settlements, exclusive of attorney fees and costs, paid to
  521  the insured by the insurer for claims that are not based on
  522  events that are the subject of a declaration of a state of
  523  emergency by the Governor.
  524         3.One percent of the amount of insurance claim payments or
  525  settlements, paid to the insured by the insurer for any coverage
  526  part of the policy where the claim payment or written agreement
  527  by the insurer to pay is equal to or greater than the policy
  528  limit for that part of the policy, if the payment or written
  529  commitment to pay is provided within 14 days after the date of
  530  loss or within 10 days after the date on which the public
  531  adjusting contract is executed, whichever is later.
  532         4.Zero percent of the amount of insurance claim payments
  533  or settlements, paid to the insured by the insurer for any
  534  coverage part of the policy where the claim payment or written
  535  agreement by the insurer to pay occurs before the date on which
  536  the public adjusting contract is executed.
  537         (c) Insurance claim payments made by the insurer do not
  538  include policy deductibles, and public adjuster compensation may
  539  not be based on the deductible portion of a claim.
  540         (d) Public adjuster compensation may not be based on
  541  amounts attributable to additional living expenses, unless such
  542  compensation is affirmatively agreed to in a separate agreement
  543  that includes a disclosure in substantially the following form:
  544  “I agree to retain and compensate the public adjuster for
  545  adjusting my additional living expenses and securing payment
  546  from my insurer for amounts attributable to additional living
  547  expenses payable under the policy issued on my (home/mobile
  548  home/condominium unit).”
  549         (e) Public adjuster rate of compensation may not be
  550  increased based solely on the fact that the claim is litigated.
  551         (f) Any maneuver, shift, or device through which the limits
  552  on compensation set forth in this subsection are exceeded is a
  553  violation of this chapter punishable as provided under s.
  554  626.8698.
  555         (12)(a)(11) Each public adjuster must provide to the
  556  claimant or insured a written estimate of the loss to assist in
  557  the submission of a proof of loss or any other claim for payment
  558  of insurance proceeds within 60 days after the date of the
  559  contract. The written estimate must include an itemized, per
  560  unit estimate of the repairs, including itemized information on
  561  equipment, materials, labor, and supplies, in accordance with
  562  accepted industry standards. The public adjuster shall retain
  563  such written estimate for at least 5 years and shall make the
  564  estimate available to the claimant or insured, the insurer, and
  565  the department upon request.
  566         (b)An insured may cancel the contract with no additional
  567  penalties or fees charged by the public adjuster if such an
  568  estimate is not provided within 60 days after executing the
  569  contract, subject to the cancellation notice requirement in this
  570  section, unless the failure to provide the estimate within 60
  571  days is caused by factors beyond the control of the public
  572  adjuster. The cancellation period shall cease on the date the
  573  public adjuster provides the written estimate to the insured.
  574         (13)(12) A public adjuster, public adjuster apprentice, or
  575  any person acting on behalf of a public adjuster or apprentice
  576  may not accept referrals of business from any person with whom
  577  the public adjuster conducts business if there is any form or
  578  manner of agreement to compensate the person, directly or
  579  indirectly, for referring business to the public adjuster. A
  580  public adjuster may not compensate any person, except for
  581  another public adjuster, directly or indirectly, for the
  582  principal purpose of referring business to the public adjuster.
  583         (14)(13) A company employee adjuster, independent adjuster,
  584  attorney, investigator, or other persons acting on behalf of an
  585  insurer that needs access to an insured or claimant or to the
  586  insured property that is the subject of a claim must provide at
  587  least 48 hours’ notice to the insured or claimant, public
  588  adjuster, or legal representative before scheduling a meeting
  589  with the claimant or an onsite inspection of the insured
  590  property. The insured or claimant may deny access to the
  591  property if the notice has not been provided. The insured or
  592  claimant may waive the 48-hour notice.
  593         (15)(14) The public adjuster must ensure that prompt notice
  594  is given of the claim to the insurer, the public adjuster’s
  595  contract is provided to the insurer, the property is available
  596  for inspection of the loss or damage by the insurer, and the
  597  insurer is given an opportunity to interview the insured
  598  directly about the loss and claim. The insurer must be allowed
  599  to obtain necessary information to investigate and respond to
  600  the claim.
  601         (a) The insurer may not exclude the public adjuster from
  602  its in-person meetings with the insured. The insurer shall meet
  603  or communicate with the public adjuster in an effort to reach
  604  agreement as to the scope of the covered loss under the
  605  insurance policy. The public adjuster shall meet or communicate
  606  with the insurer in an effort to reach agreement as to the scope
  607  of the covered loss under the insurance policy. This section
  608  does not impair the terms and conditions of the insurance policy
  609  in effect at the time the claim is filed.
  610         (b) A public adjuster may not restrict or prevent an
  611  insurer, company employee adjuster, independent adjuster,
  612  attorney, investigator, or other person acting on behalf of the
  613  insurer from having reasonable access at reasonable times to any
  614  insured or claimant or to the insured property that is the
  615  subject of a claim.
  616         (c) A public adjuster may not act or fail to reasonably act
  617  in any manner that obstructs or prevents an insurer or insurer’s
  618  adjuster from timely conducting an inspection of any part of the
  619  insured property for which there is a claim for loss or damage.
  620  The public adjuster representing the insureds may be present for
  621  the insurer’s inspection, but if the unavailability of the
  622  public adjuster otherwise delays the insurer’s timely inspection
  623  of the property, the public adjuster or the insureds must allow
  624  the insurer to have access to the property without the
  625  participation or presence of the public adjuster or insureds in
  626  order to facilitate the insurer’s prompt inspection of the loss
  627  or damage.
  628         (16)(15) A licensed contractor under part I of chapter 489,
  629  or a subcontractor of such licensee, may not advertise, solicit,
  630  offer to handle, handle, or perform public adjuster services as
  631  provided in subsection (1) unless licensed and compliant as a
  632  public adjuster under this chapter. The prohibition against
  633  solicitation does not preclude a contractor from suggesting or
  634  otherwise recommending to a consumer that the consumer consider
  635  contacting his or her insurer to determine if the proposed
  636  repair is covered under the consumer’s insurance policy, except
  637  as it relates to solicitation prohibited in s. 489.147. In
  638  addition, the contractor may discuss or explain a bid for
  639  construction or repair of covered property with the residential
  640  property owner who has suffered loss or damage covered by a
  641  property insurance policy, or the insurer of such property, if
  642  the contractor is doing so for the usual and customary fees
  643  applicable to the work to be performed as stated in the contract
  644  between the contractor and the insured.
  645         (17)(16) A public adjuster shall not acquire any interest
  646  in salvaged property, except with the written consent and
  647  permission of the insured through a signed affidavit.
  648         (18)(17) A public adjuster, a public adjuster apprentice,
  649  or a person acting on behalf of an adjuster or apprentice may
  650  not enter into a contract or accept a power of attorney that
  651  vests in the public adjuster, the public adjuster apprentice, or
  652  the person acting on behalf of the adjuster or apprentice the
  653  effective authority to choose the persons or entities that will
  654  perform repair work in a property insurance claim or provide
  655  goods or services that will require the insured or third-party
  656  claimant to expend funds in excess of those payable to the
  657  public adjuster under the terms of the contract for adjusting
  658  services.
  659         (19)(18) Subsections (5)-(18) (5)-(17) apply only to
  660  residential property insurance policies and condominium unit
  661  owner policies as described in s. 718.111(11).
  662         (20)(19) Except as otherwise provided in this chapter, no
  663  person, except an attorney at law or a licensed public adjuster,
  664  may for money, commission, or any other thing of value, directly
  665  or indirectly:
  666         (a) Prepare, complete, or file an insurance claim for an
  667  insured or a third-party claimant;
  668         (b) Act on behalf of or aid an insured or a third-party
  669  claimant in negotiating for or effecting the settlement of a
  670  claim for loss or damage covered by an insurance contract;
  671         (c) Offer to initiate or negotiate a claim on behalf of an
  672  insured;
  673         (d) Advertise services that require a license as a public
  674  adjuster; or
  675         (e) Solicit, investigate, or adjust a claim on behalf of a
  676  public adjuster, an insured, or a third-party claimant.
  677         (21)(20) The department may take administrative actions and
  678  impose fines against any persons performing claims adjusting,
  679  soliciting, or any other services described in this section
  680  without the licensure required under this section or s. 626.112.
  681         (22)(21) A public adjuster, public adjuster apprentice, or
  682  public adjusting firm that solicits a claim and does not enter
  683  into a contract with an insured or a third-party claimant
  684  pursuant to paragraph (11)(a) (10)(a) may not charge an insured
  685  or a third-party claimant or receive payment by any other source
  686  for any type of service related to the insured or third-party
  687  claimant’s claim.
  688         (23)(a)(22)(a) Any following act by a public adjuster, a
  689  public adjuster apprentice, or a person acting on behalf of a
  690  public adjuster or public adjuster apprentice is prohibited and
  691  shall result in discipline as applicable under this part:
  692         1. Offering to a residential property owner a rebate, gift,
  693  gift card, cash, coupon, waiver of any insurance deductible, or
  694  any other thing of value in exchange for:
  695         a. Allowing a contractor, a public adjuster, a public
  696  adjuster apprentice, or a person acting on behalf of a public
  697  adjuster or public adjuster apprentice to conduct an inspection
  698  of the residential property owner’s roof; or
  699         b. Making an insurance claim for damage to the residential
  700  property owner’s roof.
  701         2. Offering, delivering, receiving, or accepting any
  702  compensation, inducement, or reward for the referral of any
  703  services for which property insurance proceeds would be used for
  704  roofing repairs or replacement.
  705         (b) Notwithstanding the fine set forth in s. 626.8698, a
  706  public adjuster or public adjuster apprentice may be subject to
  707  a fine not to exceed $10,000 per act for a violation of this
  708  subsection and a fine not to exceed $20,000 per act for a
  709  violation of this subsection that occurs during a state of
  710  emergency declared by executive order or proclamation of the
  711  Governor pursuant to s. 252.36.
  712         (c) A person who engages in an act prohibited by this
  713  subsection and who is not a public adjuster or a public adjuster
  714  apprentice, or is not otherwise exempt from licensure, is guilty
  715  of the unlicensed practice of public adjusting and may be:
  716         1. Subject to all applicable penalties set forth in this
  717  part.
  718         2. Notwithstanding subparagraph 1., subject to a fine not
  719  to exceed $10,000 per act for a violation of this subsection and
  720  a fine not to exceed $20,000 per act for a violation of this
  721  subsection that occurs during a state of emergency declared by
  722  executive order or proclamation of the Governor pursuant to s.
  723  252.36.
  724         Section 9. Section 626.860, Florida Statutes, is amended to
  725  read:
  726         626.860 Attorneys at law; exemption.—Attorneys at law duly
  727  licensed to practice law in the courts of this state, and in
  728  good standing with The Florida Bar, shall not be required to be
  729  licensed under the provisions of this code to authorize them to
  730  adjust or participate in the adjustment of any claim, loss, or
  731  damage arising under policies or contracts of insurance. This
  732  exemption does not extend to the employees, interns, volunteers,
  733  or contractors of an attorney or of a law firm.
  734         Section 10. Section 626.875, Florida Statutes, is amended
  735  to read:
  736         626.875 Office and records.—
  737         (1)(a) Each appointed independent adjuster and licensed
  738  public adjuster must maintain a place of business in this state
  739  which is accessible to the public and keep therein the usual and
  740  customary records pertaining to transactions under the license.
  741  This provision does not prohibit maintenance of such an office
  742  in the home of the licensee.
  743         (b) A license issued under this chapter must at all times
  744  be posted in a conspicuous place in the principal place of
  745  business of the license holder. If the licensee is conducting
  746  business away from the place of business such that the license
  747  cannot be posted, the licensee shall have such license in his or
  748  her actual possession at the time of carrying on such business.
  749         (2) The records of the adjuster relating to a particular
  750  claim or loss shall be so retained in the adjuster’s place of
  751  business for a period of not less than 5 years after completion
  752  of the adjustment and shall be available for inspection by the
  753  department between the hours of 8 a.m. and 5 p.m., Monday
  754  through Friday, excluding state holidays. This provision shall
  755  not be deemed to prohibit return or delivery to the insurer or
  756  insured of documents furnished to or prepared by the adjuster
  757  and required by the insurer or insured to be returned or
  758  delivered thereto. At a minimum, the following records must be
  759  maintained for a period of not less than 5 years:
  760         (a) Name, address, telephone number, and e-mail address of
  761  the insured, and the name of the attorney representing the
  762  insured, if applicable.
  763         (b) The date, location, and amount of the loss.
  764         (c) An unaltered copy of the executed disclosure document
  765  required by s. 626.8796.
  766         (d) An unaltered copy of the executed public adjuster
  767  contract required by s. 626.8796.
  768         (e) A copy of the estimate of damages provided to the
  769  insurer.
  770         (f) The name of the insurer; the name of the claims
  771  representative of the insurer; and the amount, expiration date,
  772  and number of each policy under which the loss is covered.
  773         (g) An itemized statement of the recoveries by the insured
  774  from the sources known to the adjuster.
  775         (h) An itemized statement of all compensation received by
  776  the public adjuster from any source in connection with the loss.
  777         (i) A register of all money received, deposited, disbursed,
  778  and withdrawn in connection with a transaction with the insured,
  779  including fees, transfers, and disbursements in connection with
  780  the loss.
  781         Section 11. Section 626.8796, Florida Statutes, is amended
  782  to read:
  783         626.8796 Public adjuster contracts; disclosure statement;
  784  fraud statement.—
  785         (1) All contracts for public adjuster services must be in
  786  writing in at least 12-point type, be titled “Public Adjuster
  787  Contract,” and prominently display the following statement on
  788  the contract in minimum 18-point bold type before the space
  789  reserved in the contract for the signature of the insured:
  790  “Pursuant to s. 817.234, Florida Statutes, any person who, with
  791  the intent to injure, defraud, or deceive an insurer or insured,
  792  prepares, presents, or causes to be presented a proof of loss or
  793  estimate of cost or repair of damaged property in support of a
  794  claim under an insurance policy knowing that the proof of loss
  795  or estimate of claim or repairs contains false, incomplete, or
  796  misleading information concerning any fact or thing material to
  797  the claim commits a felony of the third degree, punishable as
  798  provided in s. 775.082, s. 775.083, or s. 775.084, Florida
  799  Statutes.”
  800         (2) A public adjuster contract relating to a property and
  801  casualty claim must contain the full name, permanent business
  802  address, phone number, e-mail address, and license number of the
  803  public adjuster; the full name of the public adjusting firm; and
  804  the insured’s full name, and street address, phone number, and
  805  e-mail address, together with a brief description of the loss.
  806  The contract must state the percentage of compensation for the
  807  public adjuster’s services in minimum 18-point bold type before
  808  the space reserved in the contract for the signature of the
  809  insured; the type of claim, including an emergency claim,
  810  nonemergency claim, or supplemental claim; the initials of the
  811  named insured on each page that does not contain the insured’s
  812  signature; the signatures of the public adjuster and all named
  813  insureds; and the signature date. If all of the named insureds’
  814  signatures are not available, the public adjuster must submit an
  815  affidavit signed by the available named insureds attesting that
  816  they have authority to enter into the contract and settle all
  817  claim issues on behalf of the named insureds. An unaltered copy
  818  of the executed contract must be remitted to the insured at the
  819  time of execution and to the insurer, or the insurer’s
  820  representative, within 7 30 days after execution. A public
  821  adjusting firm that adjusts claims primarily for commercial
  822  entities with operations in more than one state and that does
  823  not directly or indirectly perform adjusting services for
  824  insurers or individual homeowners is deemed to comply with the
  825  requirements of this subsection if, at the time a proof of loss
  826  is submitted, the public adjusting firm remits to the insurer an
  827  affidavit signed by the public adjuster or public adjuster
  828  apprentice that identifies:
  829         (a) The full name, permanent business address, phone
  830  number, e-mail address, and license number of the public
  831  adjuster or public adjuster apprentice.
  832         (b) The full name of the public adjusting firm.
  833         (c) The insured’s full name, and street address, phone
  834  number, and e-mail address, together with a brief description of
  835  the loss.
  836         (d) An attestation that the compensation for public
  837  adjusting services will not exceed the limitations provided by
  838  law.
  839         (e) The type of claim, including an emergency claim,
  840  nonemergency claim, or supplemental claim.
  841         (3)The public adjuster shall not receive compensation for
  842  services provided prior to the date the insured receives an
  843  unaltered copiesy of the executed contract or the date executed
  844  contract is submitted to the insurer. Proof of receipt by the
  845  insured and proof of submission to the insurer must be
  846  maintained by the public adjuster for not less than five years.
  847         (4) The insured may rescind the contract for public
  848  adjuster services if the public adjuster has not submitted a
  849  written estimate to the insurer within 60 days after executing
  850  the contract, unless the failure to provide the written estimate
  851  within 60 days is caused by factors beyond the public adjuster’s
  852  control.
  853         (5)The cancellation period for failure to provide a
  854  written estimate terminates on the date the estimate is
  855  provided.
  856         (6) Before the signing of the contract, the public adjuster
  857  shall provide the insured with a separate disclosure document to
  858  be signed by the insured, on a form adopted by the department,
  859  regarding the claim process which accomplishes the following:
  860         (a) Defines the following types of adjusters who may be
  861  involved in the claim process: company adjuster, independent
  862  adjuster, and public adjuster.
  863         (b) Explains that the public adjuster is not a
  864  representative or employee of the insurer.
  865         (c) Explains that the insured is not required to hire a
  866  public adjuster, but has a right to do so.
  867         (d) Explains that an insured has a right to initiate direct
  868  communications with the insured’s attorney, the insurer, the
  869  company adjuster, the insurer’s attorney, or any person
  870  regarding the settlement of the insured’s claim.
  871         (e) Explains that the public adjuster’s salary, fee,
  872  commission, or other consideration to be paid to a public
  873  adjuster is the insured’s responsibility.
  874         (f) Explains that the public adjuster is required to
  875  provide the insured an unaltered copy of the executed contract
  876  at the time of execution.
  877         (g) Explains that if the contract was entered into based on
  878  events that are the subject of a declaration of a state of
  879  emergency by the Governor, an insured or a claimant may cancel
  880  the public adjuster’s contract to adjust a claim without penalty
  881  or obligation within 30 days after the date of loss or 10 days
  882  after the date on which the contract is executed, whichever is
  883  longer.
  884         (h) The public adjuster shall provide an unaltered copy of
  885  the executed disclosure document to the insured at the time of
  886  execution.
  887         (7) A contract that does not comply with this section is
  888  invalid and unenforceable.
  889         (8) The department may adopt rules pursuant to ss.
  890  120.536(1) and 120.54 to implement this section, including rules
  891  to adopt forms required by this section.
  892         Section 12. Section 626.8797, Florida Statutes, is amended
  893  to read:
  894         626.8797 Proof of loss; fraud statement.—All proof-of-loss
  895  statements must prominently display the following statement in
  896  minimum 18-point bold type before the space reserved in the
  897  contract for the signature of the insured: “Pursuant to s.
  898  817.234, Florida Statutes, any person who, with the intent to
  899  injure, defraud, or deceive any insurer or insured, prepares,
  900  presents, or causes to be presented a proof of loss or estimate
  901  of cost or repair of damaged property in support of a claim
  902  under an insurance policy knowing that the proof of loss or
  903  estimate of claim or repairs contains any false, incomplete, or
  904  misleading information concerning any fact or thing material to
  905  the claim commits a felony of the third degree, punishable as
  906  provided in s. 775.082, s. 775.083, or s. 775.084, Florida
  907  Statutes.”
  908         Section 13. Paragraph (a) of subsection (1) of section
  909  626.9541, Florida Statutes, is amended to read:
  910         626.9541 Unfair methods of competition and unfair or
  911  deceptive acts or practices defined.—
  912         (1) UNFAIR METHODS OF COMPETITION AND UNFAIR OR DECEPTIVE
  913  ACTS.—The following are defined as unfair methods of competition
  914  and unfair or deceptive acts or practices:
  915         (a) Misrepresentations and false advertising of insurance
  916  policies.—Knowingly making, issuing, circulating, or causing to
  917  be made, issued, or circulated, any estimate, illustration,
  918  circular, statement, sales presentation, omission, comparison,
  919  or property and casualty certificate of insurance altered after
  920  being issued, which:
  921         1. Misrepresents the benefits, advantages, conditions, or
  922  terms of any insurance policy.
  923         2. Misrepresents the dividends or share of the surplus to
  924  be received on any insurance policy.
  925         3. Makes any false or misleading statements as to the
  926  dividends or share of surplus previously paid on any insurance
  927  policy.
  928         4. Is misleading, or is a misrepresentation, as to the
  929  financial condition of any person or as to the legal reserve
  930  system upon which any life insurer operates.
  931         5. Uses any name or title of any insurance policy or class
  932  of insurance policies misrepresenting the true nature thereof.
  933         6. Is a misrepresentation for the purpose of inducing, or
  934  tending to induce, the lapse, forfeiture, exchange, conversion,
  935  or surrender of any insurance policy.
  936         7. Is a misrepresentation for the purpose of effecting a
  937  pledge or assignment of, or effecting a loan against, any
  938  insurance policy.
  939         8. Misrepresents any insurance policy as being shares of
  940  stock or misrepresents ownership interest in the company.
  941         9. Uses any advertisement that would mislead or otherwise
  942  cause a reasonable person to believe mistakenly that the state
  943  or the Federal Government is responsible for the insurance sales
  944  activities of any person or stands behind any person’s credit or
  945  that any person, the state, or the Federal Government guarantees
  946  any returns on insurance products or is a source of payment of
  947  any insurance obligation of or sold by any person.
  948         10. Fails to disclose a third party that receives
  949  royalties, referral fees, or other remuneration for sponsorship,
  950  marketing, or use of third-party branding for a policy of health
  951  insurance as defined in s. 624.603.
  952         Section 14. Paragraph (c) of subsection (2) of section
  953  627.4025, Florida Statutes, is amended, and paragraph (d) is
  954  added to that subsection, to read:
  955         627.4025 Residential coverage and hurricane coverage
  956  defined.—
  957         (2) As used in policies providing residential coverage:
  958         (c) “Hurricane” for purposes of paragraphs (a) and (b)
  959  means a storm system that has been declared to be a hurricane by
  960  the National Hurricane Center of the National Weather Service.
  961  The duration of the hurricane includes the time period, in
  962  Florida:
  963         1. Beginning at the time a hurricane watch or hurricane
  964  warning is issued for any part of Florida by the National
  965  Hurricane Center of the National Weather Service; and
  966         2. Continuing for the time period during which the
  967  hurricane conditions exist anywhere in Florida; and
  968         3. Ending 72 hours following the termination of the last
  969  hurricane watch or hurricane warning issued for any part of
  970  Florida by the National Hurricane Center of the National Weather
  971  Service.
  972         (d) “Hurricane deductible” means the deductible applicable
  973  to loss caused by a hurricane.
  974         Section 15. Paragraph (b) of subsection (1) and paragraph
  975  (b) of subsection (2) of section 627.4133, Florida Statutes, are
  976  amended to read:
  977         627.4133 Notice of cancellation, nonrenewal, or renewal
  978  premium.—
  979         (1) Except as provided in subsection (2):
  980         (b) An insurer issuing a policy providing coverage for
  981  property, casualty, except mortgage guaranty, surety, or marine
  982  insurance, other than motor vehicle insurance subject to s.
  983  627.728 or s. 627.7281, shall give the first-named insured
  984  written notice of cancellation or termination other than
  985  nonrenewal at least 45 days prior to the effective date of the
  986  cancellation or termination, including in the written notice the
  987  reason or reasons for the cancellation or termination, except
  988  that:
  989         1. When cancellation is for nonpayment of premium, at least
  990  10 days’ written notice of cancellation accompanied by the
  991  reason therefor shall be given. As used in this subparagraph and
  992  s. 440.42(3), the term “nonpayment of premium” means failure of
  993  the named insured to discharge when due any of her or his
  994  obligations in connection with the payment of premiums on a
  995  policy or any installment of such premium, whether the premium
  996  is payable directly to the insurer or its agent or indirectly
  997  under any premium finance plan or extension of credit, or
  998  failure to maintain membership in an organization if such
  999  membership is a condition precedent to insurance coverage.
 1000  “Nonpayment of premium” also means the failure of a financial
 1001  institution to honor an insurance applicant’s check after
 1002  delivery to a licensed agent for payment of a premium, even if
 1003  the agent has previously delivered or transferred the premium to
 1004  the insurer. If a dishonored check represents the initial
 1005  premium payment, the contract and all contractual obligations
 1006  shall be void ab initio unless the nonpayment is cured within
 1007  the earlier of 5 days after actual notice by certified mail is
 1008  received by the applicant or 15 days after notice is sent to the
 1009  applicant by certified mail or registered mail, and if the
 1010  contract is void, any premium received by the insurer from a
 1011  third party shall be refunded to that party in full; and
 1012         2. When such cancellation or termination occurs during the
 1013  first 60 90 days during which the insurance is in force and the
 1014  insurance is canceled or terminated for reasons other than
 1015  nonpayment of premium, at least 20 days’ written notice of
 1016  cancellation or termination accompanied by the reason therefor
 1017  shall be given except where there has been a material
 1018  misstatement or misrepresentation or failure to comply with the
 1019  underwriting requirements established by the insurer.
 1020  
 1021  After the policy has been in effect for 60 90 days, no such
 1022  policy shall be canceled by the insurer except when there has
 1023  been a material misstatement, a nonpayment of premium, a failure
 1024  to comply with underwriting requirements established by the
 1025  insurer within 60 90 days of the date of effectuation of
 1026  coverage, or a substantial change in the risk covered by the
 1027  policy or when the cancellation is for all insureds under such
 1028  policies for a given class of insureds. This subsection does not
 1029  apply to individually rated risks having a policy term of less
 1030  than 90 days.
 1031         (d) Notwithstanding paragraph (b), Citizens Property
 1032  Insurance Corporation, in underwriting risks that, prior to the
 1033  date of the application, were most recently insured by an
 1034  insurer that has been placed in receivership under chapter 631,
 1035  may immediately cancel a policy insuring such risk that is in
 1036  effect for 90 days or less for material misrepresentation or
 1037  failure to comply with underwriting requirements established
 1038  before the effectuation of coverage.
 1039         (2) With respect to any personal lines or commercial
 1040  residential property insurance policy, including, but not
 1041  limited to, any homeowner, mobile home owner, farmowner,
 1042  condominium association, condominium unit owner, apartment
 1043  building, or other policy covering a residential structure or
 1044  its contents:
 1045         (b) The insurer shall give the first-named insured written
 1046  notice of nonrenewal, cancellation, or termination at least 120
 1047  days before the effective date of the nonrenewal, cancellation,
 1048  or termination. The notice must include the reason for the
 1049  nonrenewal, cancellation, or termination, except that:
 1050         1. If cancellation is for nonpayment of premium, at least
 1051  10 days’ written notice of cancellation accompanied by the
 1052  reason therefor must be given. As used in this subparagraph, the
 1053  term “nonpayment of premium” means failure of the named insured
 1054  to discharge when due her or his obligations for paying the
 1055  premium on a policy or an installment of such premium, whether
 1056  the premium is payable directly to the insurer or its agent or
 1057  indirectly under a premium finance plan or extension of credit,
 1058  or failure to maintain membership in an organization if such
 1059  membership is a condition precedent to insurance coverage. The
 1060  term also means the failure of a financial institution to honor
 1061  an insurance applicant’s check after delivery to a licensed
 1062  agent for payment of a premium even if the agent has previously
 1063  delivered or transferred the premium to the insurer. If a
 1064  dishonored check represents the initial premium payment, the
 1065  contract and all contractual obligations are void ab initio
 1066  unless the nonpayment is cured within the earlier of 5 days
 1067  after actual notice by certified mail is received by the
 1068  applicant or 15 days after notice is sent to the applicant by
 1069  certified mail or registered mail. If the contract is void, any
 1070  premium received by the insurer from a third party must be
 1071  refunded to that party in full.
 1072         2. If cancellation or termination occurs during the first
 1073  60 90 days the insurance is in force and the insurance is
 1074  canceled or terminated for reasons other than nonpayment of
 1075  premium, at least 20 days’ written notice of cancellation or
 1076  termination accompanied by the reason therefor must be given
 1077  unless there has been a material misstatement or
 1078  misrepresentation or a failure to comply with the underwriting
 1079  requirements established by the insurer.
 1080         3. After the policy has been in effect for 60 90 days, the
 1081  policy may not be canceled by the insurer unless there has been
 1082  a material misstatement; a nonpayment of premium; a failure to
 1083  comply, within 60 90 days after the date of effectuation of
 1084  coverage, with underwriting requirements established by the
 1085  insurer before the date of effectuation of coverage; or a
 1086  substantial change in the risk covered by the policy or unless
 1087  the cancellation is for all insureds under such policies for a
 1088  given class of insureds. This subparagraph does not apply to
 1089  individually rated risks that have a policy term of less than 90
 1090  days.
 1091         4. After a policy or contract has been in effect for more
 1092  than 60 90 days, the insurer may not cancel or terminate the
 1093  policy or contract based on credit information available in
 1094  public records.
 1095         5. A policy that is nonrenewed by Citizens Property
 1096  Insurance Corporation, pursuant to s. 627.351(6), for a policy
 1097  that has been assumed by an authorized insurer offering
 1098  replacement coverage to the policyholder is exempt from the
 1099  notice requirements of paragraph (a) and this paragraph. In such
 1100  cases, the corporation must give the named insured written
 1101  notice of nonrenewal at least 45 days before the effective date
 1102  of the nonrenewal.
 1103         6. Notwithstanding any other provision of law, an insurer
 1104  may cancel or nonrenew a property insurance policy after at
 1105  least 45 days’ notice if the office finds that the early
 1106  cancellation of some or all of the insurer’s policies is
 1107  necessary to protect the best interests of the public or
 1108  policyholders and the office approves the insurer’s plan for
 1109  early cancellation or nonrenewal of some or all of its policies.
 1110  The office may base such finding upon the financial condition of
 1111  the insurer, lack of adequate reinsurance coverage for hurricane
 1112  risk, or other relevant factors. The office may condition its
 1113  finding on the consent of the insurer to be placed under
 1114  administrative supervision pursuant to s. 624.81 or to the
 1115  appointment of a receiver under chapter 631.
 1116         7. A policy covering both a home and a motor vehicle may be
 1117  nonrenewed for any reason applicable to the property or motor
 1118  vehicle insurance after providing 90 days’ notice.
 1119         Section 16. Effective January 1, 2024, section 627.4554,
 1120  Florida Statutes, is amended to read:
 1121         627.4554 Suitability in annuity transactions investments.—
 1122         (1) PURPOSE.—The purpose of this section is to require
 1123  agents to act in the best interest of the consumer when making a
 1124  recommendation of an annuity and to require insurers to
 1125  establish and maintain a system to supervise so set forth
 1126  standards and procedures for making recommendations to consumers
 1127  which result in transactions involving annuity products, and to
 1128  establish a system for supervising such recommendations in order
 1129  to ensure that the insurance needs and financial objectives of
 1130  consumers are effectively appropriately addressed at the time of
 1131  the transaction.
 1132         (2) SCOPE.—This section applies to any sale or
 1133  recommendation of made to a consumer to purchase, exchange, or
 1134  replace an annuity by an insurer or its agent, and which results
 1135  in the purchase, exchange, or replacement recommended.
 1136         (3) DEFINITIONS.—As used in this section, the term:
 1137         (a) “Agent” means a person or entity required to be
 1138  licensed under the laws of this state to sell, solicit, or
 1139  negotiate insurance, including annuities. For purposes of this
 1140  section, the term includes an insurer when no agent is involved
 1141  has the same meaning as provided in s. 626.015.
 1142         (b) “Annuity” means an insurance product under state law
 1143  which is individually solicited, whether classified as an
 1144  individual or group annuity.
 1145         (c) “Cash compensation” means any discount, concession,
 1146  fee, service fee, commission, sales charge, loan, override, or
 1147  cash benefit received by an agent from an insurer or
 1148  intermediary or directly from the consumer in connection with
 1149  the recommendation or sale of an annuity.
 1150         (d) “Consumer profile information” means information that
 1151  is reasonably appropriate to determine whether a recommendation
 1152  addresses the consumer’s financial situation, insurance needs,
 1153  and financial objectives, including, at a minimum, the
 1154  following:
 1155         1. Age.
 1156         2. Annual income.
 1157         3. Financial situation and needs, including debts and other
 1158  obligations.
 1159         4. Financial experience.
 1160         5. Insurance needs.
 1161         6. Financial objectives.
 1162         7. Intended use of the annuity.
 1163         8. Financial time horizon.
 1164         9. Existing assets or financial products, including
 1165  investment, annuity, and insurance holdings.
 1166         10. Liquidity needs.
 1167         11. Liquid net worth.
 1168         12. Risk tolerance, including, but not limited to,
 1169  willingness to accept nonguaranteed elements in the annuity.
 1170         13. Financial resources used to fund the annuity.
 1171         14. Tax status.
 1172         (e)(c) “FINRA” means the Financial Industry Regulatory
 1173  Authority or a succeeding agency.
 1174         (f)(d) “Insurer” has the same meaning as provided in s.
 1175  624.03.
 1176         (g) “Intermediary” means an entity contracted directly with
 1177  an insurer or with another entity contracted with an insurer to
 1178  facilitate the sale of the insurer’s annuities by agents.
 1179         (h) “Material conflict of interest” means a financial
 1180  interest of the agent in the sale of an annuity which a
 1181  reasonable person would expect to influence the impartiality of
 1182  a recommendation. The term does not include cash compensation or
 1183  noncash compensation.
 1184         (i) “Noncash compensation” means any form of compensation
 1185  that is not cash compensation, including, but not limited to,
 1186  health insurance, office rent, office support, and retirement
 1187  benefits.
 1188         (j) “Nonguaranteed elements” means the premiums; credited
 1189  interest rates, including any bonus; benefits; values;
 1190  dividends; noninterest-based credits; charges; or elements of
 1191  formulas used to determine any of these, which are subject to
 1192  company discretion and are not guaranteed at issue. An element
 1193  is considered nonguaranteed if any of the underlying
 1194  nonguaranteed elements are used in its calculation.
 1195         (k)(e) “Recommendation” means advice provided by an insurer
 1196  or its agent to an individual a consumer which was intended to
 1197  result or does result which would result in a the purchase, an
 1198  exchange, or a replacement of an annuity in accordance with that
 1199  advice. The term does not include general communication to the
 1200  public, generalized customer services, assistance or
 1201  administrative support, general educational information and
 1202  tools, prospectuses, or other product and sales material.
 1203         (l)(f) “Replacement” means a transaction in which a new
 1204  annuity policy or contract is to be purchased and it is known or
 1205  should be known to the proposing insurer or its agent, or to the
 1206  proposing insurer whether or not an agent is involved, that by
 1207  reason of such transaction an existing annuity or other
 1208  insurance policy has been or is to be any of the following or
 1209  contract will be:
 1210         1. Lapsed, forfeited, surrendered or partially surrendered,
 1211  assigned to the replacing insurer, or otherwise terminated;
 1212         2. Converted to reduced paid-up insurance, continued as
 1213  extended term insurance, or otherwise reduced in value due to
 1214  the use of nonforfeiture benefits or other policy values;
 1215         3. Amended so as to effect a reduction in benefits or the
 1216  term for which coverage would otherwise remain in force or for
 1217  which benefits would be paid;
 1218         4. Reissued with a reduction in cash value; or
 1219         5. Used in a financed purchase.
 1220         (m) “SEC” means the United States Securities and Exchange
 1221  Commission.
 1222         (g) “Suitability information” means information related to
 1223  the consumer which is reasonably appropriate to determine the
 1224  suitability of a recommendation made to the consumer, including
 1225  the following:
 1226         1. Age;
 1227         2. Annual income;
 1228         3. Financial situation and needs, including the financial
 1229  resources used for funding the annuity;
 1230         4. Financial experience;
 1231         5. Financial objectives;
 1232         6. Intended use of the annuity;
 1233         7. Financial time horizon;
 1234         8. Existing assets, including investment and life insurance
 1235  holdings;
 1236         9. Liquidity needs;
 1237         10. Liquid net worth;
 1238         11. Risk tolerance; and
 1239         12. Tax status.
 1240         (4) EXEMPTIONS.—Unless otherwise specifically included,
 1241  this section does not apply to transactions involving:
 1242         (a) Direct-response solicitations where there is no
 1243  recommendation based on information collected from the consumer
 1244  pursuant to this section;
 1245         (b) Contracts used to fund:
 1246         1. An employee pension or welfare benefit plan that is
 1247  covered by the federal Employee Retirement and Income Security
 1248  Act;
 1249         2. A plan described by s. 401(a), s. 401(k), s. 403(b), s.
 1250  408(k), or s. 408(p) of the Internal Revenue Code, if
 1251  established or maintained by an employer;
 1252         3. A government or church plan defined in s. 414 of the
 1253  Internal Revenue Code, a government or church welfare benefit
 1254  plan, or a deferred compensation plan of a state or local
 1255  government or tax-exempt organization under s. 457 of the
 1256  Internal Revenue Code; or
 1257         4. A nonqualified deferred compensation arrangement
 1258  established or maintained by an employer or plan sponsor;
 1259         (c)5. Settlements or assumptions of liabilities associated
 1260  with personal injury litigation or a dispute or claim-resolution
 1261  process; or
 1262         (d)6. Formal prepaid funeral contracts.
 1263         (5) DUTIES OF INSURERS AND AGENTS.—
 1264         (a) An agent, when making a recommendation of an annuity,
 1265  shall act in the best interest of the consumer under the
 1266  circumstances known at the time the recommendation is made,
 1267  without placing the financial interest of the agent or insurer
 1268  ahead of the consumer’s interest. An agent has acted in the best
 1269  interest of the consumer if the agent has satisfied the
 1270  following obligations regarding care, disclosure, conflict of
 1271  interest, and documentation:
 1272         1.a. The agent, in making a recommendation, shall exercise
 1273  reasonable diligence, care, and skill to:
 1274         (I) Know the financial situation, insurance needs, and
 1275  financial objectives of the customer.
 1276         (II) Understand the available options after making a
 1277  reasonable inquiry into options available to the agent.
 1278         (III) Have a reasonable basis to believe the recommended
 1279  option effectively addresses the consumer’s financial situation,
 1280  insurance needs, and financial objectives over the life of the
 1281  product, as evaluated in light of the consumer profile
 1282  information.
 1283         (IV) Communicate the reason or reasons for the
 1284  recommendation.
 1285         b. The requirements of sub-subparagraph a. include:
 1286         (I) Making reasonable efforts to obtain consumer profile
 1287  information from the consumer before the recommendation of an
 1288  annuity.
 1289         (II) Requiring an agent to consider the types of products
 1290  the agent is authorized and licensed to recommend or sell which
 1291  address the consumer’s financial situation, insurance needs, and
 1292  financial objectives. This does not require analysis or
 1293  consideration of any products outside the authority and license
 1294  of the agent or other possible alternative products or
 1295  strategies available in the market at the time of the
 1296  recommendation. Agents shall be held to standards applicable to
 1297  agents with similar authority and licensure.
 1298         (III) Having a reasonable basis to believe the consumer
 1299  would benefit from certain features of the annuity, such as
 1300  annuitization, death or living benefit, or other insurance
 1301  related features.
 1302         c. The requirements of this subsection do not create a
 1303  fiduciary obligation or relationship and only create a
 1304  regulatory obligation as provided in this section.
 1305         d. The consumer profile information, characteristics of the
 1306  insurer, and product costs, rates, benefits, and features are
 1307  those factors generally relevant in making a determination
 1308  whether an annuity effectively addresses the consumer’s
 1309  financial situation, insurance needs, and financial objectives,
 1310  but the level of importance of each factor under the care
 1311  obligation of this paragraph may vary depending on the facts and
 1312  circumstances of a particular case. However, each factor may not
 1313  be considered in isolation.
 1314         e. The requirements under sub-subparagraph a. apply to the
 1315  particular annuity as a whole and the underlying subaccounts to
 1316  which funds are allocated at the time of purchase or exchange of
 1317  an annuity, and riders and similar product enhancements, if any.
 1318         f. Sub-subparagraph a. does not require that the annuity
 1319  with the lowest one-time occurrence compensation structure or
 1320  multiple occurrence compensation structure shall necessarily be
 1321  recommended.
 1322         g. Sub-subparagraph a. does not require the agent to have
 1323  ongoing monitoring obligations under the care obligation,
 1324  although such an obligation may be separately owed under the
 1325  terms of a fiduciary, consulting, investment, advising, or
 1326  financial planning agreement between the consumer and the agent.
 1327         h. In the case of an exchange or replacement of an annuity,
 1328  the agent shall consider the whole transaction, which includes
 1329  taking into consideration whether:
 1330         (I) The consumer will incur a surrender charge; be subject
 1331  to the commencement of a new surrender period; lose existing
 1332  benefits, such as death, living, or other contractual benefits;
 1333  or be subject to increased fees, investment advisory fees, or
 1334  charges for riders and similar product enhancements.
 1335         (II) The replacing product would substantially benefit the
 1336  consumer in comparison to the replaced product over the life of
 1337  the product.
 1338         (III) The consumer has had another annuity exchange or
 1339  replacement and, in particular, an exchange or replacement
 1340  within the preceding 60 months.
 1341         i. This section does not require an agent to obtain any
 1342  license other than an agent license with the appropriate line of
 1343  authority to sell, solicit, or negotiate insurance in this
 1344  state, including, but not limited to, any securities license, in
 1345  order to fulfill the duties and obligations contained in this
 1346  section; provided, the agent does not give advice or provide
 1347  services that are otherwise subject to securities laws or engage
 1348  in any other activity requiring other professional licenses.
 1349         2.a. Before the recommendation or sale of an annuity, the
 1350  agent shall prominently disclose to the consumer, on a form
 1351  substantially similar to that posted on the office website as
 1352  Appendix A, related to an insurance agent disclosure for
 1353  annuities:
 1354         (I) A description of the scope and terms of the
 1355  relationship with the consumer and the role of the agent in the
 1356  transaction.
 1357         (II) An affirmative statement on whether the agent is
 1358  licensed and authorized to sell the following products:
 1359         (A) Fixed annuities.
 1360         (B) Fixed indexed annuities.
 1361         (C) Variable annuities.
 1362         (D) Life insurance.
 1363         (E) Mutual funds.
 1364         (F) Stocks and bonds.
 1365         (G) Certificates of deposit.
 1366         (III) An affirmative statement describing the insurers for
 1367  which the agent is authorized, contracted, or appointed, or
 1368  otherwise able to sell insurance products, using the following
 1369  descriptions:
 1370         (A) From one insurer;
 1371         (B) From two or more insurers; or
 1372         (C) From two or more insurers, although primarily
 1373  contracted with one insurer.
 1374         (IV) A description of the sources and types of cash
 1375  compensation and noncash compensation to be received by the
 1376  agent, including whether the agent is to be compensated for the
 1377  sale of a recommended annuity by commission as part of premium
 1378  or other remuneration received from the insurer, intermediary,
 1379  or other agent, or by fee as a result of a contract for advice
 1380  or consulting services.
 1381         (V) A notice of the consumer’s right to request additional
 1382  information regarding cash compensation described in sub
 1383  subparagraph b.
 1384         b. Upon request of the consumer or the consumer’s
 1385  designated representative, the agent shall disclose:
 1386         (I) A reasonable estimate of the amount of cash
 1387  compensation to be received by the agent, which may be stated as
 1388  a range of amounts or percentages.
 1389         (II) Whether the cash compensation is a one-time or
 1390  multiple occurrence amount; and if a multiple occurrence amount,
 1391  the frequency and amount of the occurrence, which may be stated
 1392  as a range of amounts or percentages. When recommending the
 1393  purchase or exchange of an annuity to a consumer which results
 1394  in an insurance transaction or series of insurance transactions,
 1395  the agent, or the insurer where no agent is involved, must have
 1396  reasonable grounds for believing that the recommendation is
 1397  suitable for the consumer, based on the consumer’s suitability
 1398  information, and that there is a reasonable basis to believe all
 1399  of the following:
 1400         c.1.Before or at the time of the recommendation or sale of
 1401  an annuity, the agent shall have a reasonable basis to believe
 1402  the consumer has been reasonably informed of various features of
 1403  the annuity, such as the potential surrender period and
 1404  surrender charge; potential tax penalty if the consumer sells,
 1405  exchanges, surrenders, or annuitizes the annuity; mortality and
 1406  expense fees; any annual fees; investment advisory fees;
 1407  potential charges for and features of riders or other options of
 1408  the annuity; limitations on interest returns; potential changes
 1409  in nonguaranteed elements of the annuity; insurance and
 1410  investment components; and market risk.
 1411         2. The consumer would benefit from certain features of the
 1412  annuity, such as tax-deferred growth, annuitization, or the
 1413  death or living benefit.
 1414         3. An agent shall identify and avoid or reasonably manage
 1415  and disclose material conflicts of interest, including material
 1416  conflicts of interest related to an ownership interest.
 1417         4. An agent shall at the time of the recommendation or
 1418  sale:
 1419         a. Make a written record of any recommendation and the
 1420  basis for the recommendation, subject to this section.
 1421         b. Obtain a consumer-signed statement on a form
 1422  substantially similar to that posted on the office website as
 1423  Appendix B, related to a consumer’s refusal to provide
 1424  information, documenting:
 1425         (I) A customer’s refusal to provide the consumer profile
 1426  information, if any.
 1427         (II) A customer’s understanding of the ramifications of not
 1428  providing his or her consumer profile information or providing
 1429  insufficient consumer profile information.
 1430         c. Obtain a consumer-signed statement on a form
 1431  substantially similar to that posted on the office website as
 1432  Appendix C, related to a consumer’s decision to purchase an
 1433  annuity not based on a recommendation, acknowledging the annuity
 1434  transaction is not recommended if a customer decides to enter
 1435  into an annuity transaction that is not based on the agent’s
 1436  recommendation.
 1437         5. Any requirement applicable to an agent under this
 1438  subsection applies to every agent who has exercised material
 1439  control or influence in the making of a recommendation and has
 1440  received direct compensation as a result of the recommendation
 1441  or sale, regardless of whether the agent has had any direct
 1442  contact with the consumer. Activities such as providing or
 1443  delivering marketing or education materials, product wholesaling
 1444  or other back office product support, and general supervision of
 1445  an agent do not, in and of themselves, constitute material
 1446  control or influence.
 1447         3. The particular annuity as a whole, the underlying
 1448  subaccounts to which funds are allocated at the time of purchase
 1449  or exchange of the annuity, and riders and similar product
 1450  enhancements, if any, are suitable; and, in the case of an
 1451  exchange or replacement, the transaction as a whole is suitable
 1452  for the particular consumer based on his or her suitability
 1453  information.
 1454         4. In the case of an exchange or replacement of an annuity,
 1455  the exchange or replacement is suitable after considering
 1456  whether the consumer:
 1457         a. Will incur a surrender charge; be subject to the
 1458  commencement of a new surrender period; lose existing benefits,
 1459  such as death, living, or other contractual benefits; or be
 1460  subject to increased fees, investment advisory fees, or charges
 1461  for riders and similar product enhancements;
 1462         b. Would benefit from product enhancements and
 1463  improvements; and
 1464         c. Has had another annuity exchange or replacement,
 1465  including an exchange or replacement within the preceding 36
 1466  months.
 1467         (b) Before executing a purchase, exchange, or replacement
 1468  of an annuity resulting from a recommendation, an insurer or its
 1469  agent must make reasonable efforts to obtain the consumer’s
 1470  suitability information. The information shall be collected on
 1471  form DFS-H1-1980, which is hereby incorporated by reference, and
 1472  completed and signed by the applicant and agent. Questions
 1473  requesting this information must be presented in at least 12
 1474  point type and be sufficiently clear so as to be readily
 1475  understandable by both the agent and the consumer. A true and
 1476  correct executed copy of the form must be provided by the agent
 1477  to the insurer, or to the person or entity that has contracted
 1478  with the insurer to perform this function as authorized by this
 1479  section, within 10 days after execution of the form, and shall
 1480  be provided to the consumer no later than the date of delivery
 1481  of the contract or contracts.
 1482         (c) Except as provided under paragraph (d), an insurer may
 1483  not issue an annuity recommended to a consumer unless there is a
 1484  reasonable basis to believe the annuity is suitable based on the
 1485  consumer’s suitability information.
 1486         (b)1.(d)Except as provided under subparagraph 2., An
 1487  insurer’s issuance of an annuity must be reasonable based on all
 1488  the circumstances actually known to the insurer at the time the
 1489  annuity is issued. However, an insurer or its agent does not
 1490  have does not have an obligation to a consumer related to an
 1491  annuity transaction under subparagraph (a)1. paragraph (a) or
 1492  paragraph (c) if:
 1493         a.1. A recommendation has not been made;
 1494         b.2. A recommendation was made and is later found to have
 1495  been based on materially inaccurate information provided by the
 1496  consumer;
 1497         c.3. A consumer refuses to provide relevant consumer
 1498  profile suitability information and the annuity transaction is
 1499  not recommended; or
 1500         d.4. A consumer decides to enter into an annuity
 1501  transaction that is not based on a recommendation of the an
 1502  insurer or its agent.
 1503         2. An insurer’s issuance of an annuity subject to
 1504  subparagraph 1. must be reasonable under all the circumstances
 1505  actually known to the insurer at the time the annuity is issued.
 1506         (c)1. Except as permitted under paragraph (b), an insurer
 1507  may not issue an annuity recommended to a consumer unless there
 1508  is a reasonable basis to believe the annuity would effectively
 1509  address the particular consumer’s financial situation, insurance
 1510  needs, and financial objectives based on the consumer’s consumer
 1511  profile information.
 1512         (e) At the time of sale, the agent or the agent’s
 1513  representative must:
 1514         1. Make a record of any recommendation made to the consumer
 1515  pursuant to paragraph (a);
 1516         2. Obtain the consumer’s signed statement documenting his
 1517  or her refusal to provide suitability information, if
 1518  applicable; and
 1519         3. Obtain the consumer’s signed statement acknowledging
 1520  that an annuity transaction is not recommended if he or she
 1521  decides to enter into an annuity transaction that is not based
 1522  on the insurer’s or its agent’s recommendation, if applicable.
 1523         (f) Before executing a replacement or exchange of an
 1524  annuity contract resulting from a recommendation, the agent must
 1525  provide on form DFS-H1-1981, which is hereby incorporated by
 1526  reference, information that compares the differences between the
 1527  existing annuity contract and the annuity contract being
 1528  recommended in order to determine the suitability of the
 1529  recommendation and its benefit to the consumer. A true and
 1530  correct executed copy of this form must be provided by the agent
 1531  to the insurer, or to the person or entity that has contracted
 1532  with the insurer to perform this function as authorized by this
 1533  section, within 10 days after execution of the form, and must be
 1534  provided to the consumer no later than the date of delivery of
 1535  the contract or contracts.
 1536         2.(g) An insurer shall establish and maintain a supervision
 1537  system that is reasonably designed to achieve the insurer’s and
 1538  its agent’s compliance with this section, including, but not
 1539  limited to, the following:.
 1540         1. Such system must include, but is not limited to:
 1541         a. The insurer shall establish and maintain Maintaining
 1542  reasonable procedures to inform its agents of the requirements
 1543  of this section and incorporating those requirements into
 1544  relevant agent training manuals.;
 1545         b. The insurer shall establish and maintain Establishing
 1546  standards for agent product training and shall establish and
 1547  maintain reasonable procedures to require its agents to comply
 1548  with the requirements of subsection (6).;
 1549         c. The insurer shall provide Providing product-specific
 1550  training and training materials that explain all material
 1551  features of its annuity products to its agents.;
 1552         d. The insurer shall establish and maintain Maintaining
 1553  procedures for the review of each recommendation before issuance
 1554  of an annuity which are designed to ensure that there is a
 1555  reasonable basis to determine the recommended annuity would
 1556  effectively address the particular consumer’s financial
 1557  situation, insurance needs, and financial objectives for
 1558  determining that a recommendation is suitable. Such review
 1559  procedures may use a screening system for identifying selected
 1560  transactions for additional review and may be accomplished
 1561  electronically or through other means, including, but not
 1562  limited to, physical review. Such electronic or other system may
 1563  be designed to require additional review only of those
 1564  transactions identified for additional review using established
 1565  selection criteria.;
 1566         e. The insurer shall establish and maintain Maintaining
 1567  reasonable procedures to detect recommendations that are not in
 1568  compliance with paragraphs (a), (b), (d), and (e). This may
 1569  include, but is not limited to, suitable, such as confirmation
 1570  of consumer profile suitability information, systematic customer
 1571  surveys, agent and consumer interviews, confirmation letters,
 1572  agent statements or attestations, and internal monitoring
 1573  programs. This sub-subparagraph does not prevent an insurer from
 1574  using sampling procedures or from confirming the consumer
 1575  profile suitability information after the issuance or delivery
 1576  of the annuity.; and
 1577         f. The insurer shall establish and maintain reasonable
 1578  procedures to assess, prior to or upon issuance or delivery of
 1579  an annuity, whether an agent has provided to the consumer the
 1580  information required to be provided under this subsection.
 1581         g. The insurer shall establish and maintain reasonable
 1582  procedures to identify and address suspicious consumer refusals
 1583  to provide consumer profile information.
 1584         h. The insurer shall establish and maintain reasonable
 1585  procedures to identify and eliminate any sales contests, sales
 1586  quotas, bonuses, and noncash compensation that are based on the
 1587  sales of specific annuities within a limited period of time. The
 1588  requirements of this sub-subparagraph are not intended to
 1589  prohibit the receipt of health insurance, office rents, office
 1590  support, retirement benefits, or other employee benefits by
 1591  employees, as long as those benefits are not based upon the
 1592  volume of sales of a specific annuity within a limited period of
 1593  time.
 1594         i.f.The insurer shall annually provide providing a written
 1595  report to senior managers, including the senior manager who is
 1596  responsible for audit functions, which details a review, along
 1597  with appropriate testing, which is reasonably designed to
 1598  determine the effectiveness of the supervision system, the
 1599  exceptions found, and corrective action taken or recommended, if
 1600  any.
 1601         3.2. An insurer is not required to include in its
 1602  supervision system:
 1603         a. Agent recommendations to consumers of products other
 1604  than the annuities offered by the insurer; or
 1605         b. Consideration of or comparison to options available to
 1606  the agent or compensation relating to those options other than
 1607  annuities or other products offered by the insurer.
 1608         4.3. An insurer may contract for performance of a function,
 1609  including maintenance of procedures, required under subparagraph
 1610  1.
 1611         a. An insurer’s supervision system under this subsection
 1612  shall include supervision of contractual performance under this
 1613  subsection, which includes, but is If an insurer contracts for
 1614  the performance of a function, the insurer must include the
 1615  supervision of contractual performance as part of those
 1616  procedures listed in subparagraph 1. These include, but are not
 1617  limited to:
 1618         (I) Monitoring and, as appropriate, conducting audits to
 1619  ensure that the contracted function is properly performed; and
 1620         (II) Annually obtaining a certification from a senior
 1621  manager who has responsibility for the contracted function that
 1622  the manager has a reasonable basis to represent, and does
 1623  represent, for representing that the function is being properly
 1624  performed.
 1625         b. An insurer is responsible for taking appropriate
 1626  corrective action and may be subject to sanctions and penalties
 1627  pursuant to subsection (8) (7) regardless of whether the insurer
 1628  contracts for performance of a function and regardless of the
 1629  insurer’s compliance with sub-subparagraph a.
 1630         (d)(h)Neither an agent nor an insurer shall may not
 1631  dissuade, or attempt to dissuade, a consumer from:
 1632         1. Truthfully responding to an insurer’s request for
 1633  confirmation of consumer profile suitability information;
 1634         2. Filing a complaint; or
 1635         3. Cooperating with the investigation of a complaint.
 1636         (e)1.(i)Recommendations and sales made in compliance with
 1637  comparable standards shall FINRA requirements pertaining to the
 1638  suitability and supervision of annuity transactions satisfy the
 1639  requirements of this section. This applies to all
 1640  recommendations and FINRA broker-dealer sales of variable
 1641  annuities made by financial professionals in compliance with
 1642  business rules, controls, and procedures that satisfy a
 1643  comparable standard even if such standard would not otherwise
 1644  apply to the product or recommendation at issue and fixed
 1645  annuities if the suitability and supervision is similar to those
 1646  applied to variable annuity sales. However, this paragraph does
 1647  not limit the ability of the office or the department to
 1648  investigate and enforce, including investigate, the provisions
 1649  of this section.
 1650         2. Subparagraph 1. does not limit the insurer’s obligation
 1651  to comply with subparagraph (c)1., although the insurer may base
 1652  its analysis on information received from either the financial
 1653  professional or the entity supervising the financial
 1654  professional.
 1655         3. For subparagraph 1. this paragraph to apply, an insurer
 1656  must:
 1657         a.1. Monitor relevant conduct of the financial professional
 1658  seeking to rely on subparagraph 1. or the entity responsible for
 1659  supervising the financial professional, such as the financial
 1660  professional’s broker-dealer or an investment adviser registered
 1661  under federal or state securities law, the FINRA member broker
 1662  dealer using information collected in the normal course of an
 1663  insurer’s business; and
 1664         b.2. Provide to the entity responsible for supervising the
 1665  financial professional seeking to rely on subparagraph 1., such
 1666  as the financial professional’s broker-dealer or investment
 1667  adviser registered under federal or state securities laws, FINRA
 1668  member broker-dealer information and reports that are reasonably
 1669  appropriate to assist such entity the FINRA member broker-dealer
 1670  in maintaining its supervision system.
 1671         4. For purposes of this paragraph, the term:
 1672         a. “Comparable standards” means:
 1673         (I) With respect to broker-dealers and registered
 1674  representatives of broker-dealers, applicable SEC and FINRA
 1675  rules pertaining to best interest obligations and supervision of
 1676  annuity recommendations and sales, including, but not limited
 1677  to, Regulation Best Interest, 17 C.F.R. s. 240.15l–1, and any
 1678  amendments or successor regulations thereto;
 1679         (II) With respect to investment advisers registered under
 1680  federal or state securities laws or investment adviser
 1681  representatives, the fiduciary duties and all other requirements
 1682  imposed on such investment advisers or investment adviser
 1683  representatives by contract or under the Investment Advisers Act
 1684  of 1940 or applicable state securities laws, including, but not
 1685  limited to, Form ADV and interpretations; and
 1686         (III) With respect to plan fiduciaries or fiduciaries, the
 1687  duties, obligations, prohibitions, and all other requirements
 1688  attendant to such status under the Employee Retirement Income
 1689  Security Act of 1974 or the Internal Revenue Code and any
 1690  amendments or successor statutes thereto.
 1691         b. “Financial professional” means an agent that is
 1692  regulated and acting as:
 1693         (I) A broker-dealer registered under federal or state
 1694  securities laws or a registered representative of a broker
 1695  dealer;
 1696         (II) An investment adviser registered under federal or
 1697  state securities laws or an investment adviser representative
 1698  associated with the federal or state registered investment
 1699  adviser; or
 1700         (III) A plan fiduciary under s. 3(21) of the Employee
 1701  Retirement Income Security Act of 1974 or fiduciary under s.
 1702  4975(e)(3) of the Internal Revenue Code or any amendments or
 1703  successor statutes thereto.
 1704         (6) AGENT TRAINING.—
 1705         (a) An agent shall not solicit the sale of an annuity
 1706  product unless the agent has adequate knowledge of the product
 1707  to recommend the annuity and the agent is in compliance with the
 1708  insurer’s standards for product training. An agent may rely on
 1709  insurer-provided, product-specific training standards and
 1710  materials to comply with this subsection.
 1711         (b)1.a. An agent who engages in the sale of annuity
 1712  products shall complete a one-time 4-hour training course. This
 1713  requirement is not part of an agent’s continuing education
 1714  requirement in s. 626.2815; however, if a course provider
 1715  submits and receives approval from the department, the course is
 1716  eligible for continuing education credit pursuant to s.
 1717  626.2815.
 1718         b. Agents who hold a life insurance line of authority on
 1719  January 1, 2024, and who desire to sell annuities shall complete
 1720  the requirements of this subsection by July 1, 2024. Individuals
 1721  who obtain a life insurance line of authority after January 1,
 1722  2024, may not engage in the sale of annuities until the annuity
 1723  training course required under this subsection has been
 1724  completed.
 1725         2. The minimum length of the training required under this
 1726  subsection is 4 hours.
 1727         3. The training required under this subsection shall
 1728  include information on the following topics:
 1729         a. The types of annuities and various classifications of
 1730  annuities.
 1731         b. Identification of the parties to an annuity.
 1732         c. How product-specific annuity contract features affect
 1733  consumers.
 1734         d. The application of income taxation of qualified and
 1735  nonqualified annuities.
 1736         e. The primary uses of annuities.
 1737         f. The appropriate standard of conduct, sales practices,
 1738  replacement, and disclosure requirements.
 1739         4. Providers of courses intended to comply with this
 1740  subsection shall cover all topics listed in the prescribed
 1741  outline and shall not present any marketing information or
 1742  provide training on sales techniques or provide specific
 1743  information about a particular insurer’s products. Additional
 1744  topics may be offered in conjunction with and in addition to the
 1745  required outline.
 1746         5. An agent who has completed an annuity training course
 1747  before January 1, 2024, shall, by July 1, 2024, complete either:
 1748         a. A new 4-hour training course; or
 1749         b. An additional 1-hour training course on appropriate
 1750  sales practices, replacement, and disclosure requirements under
 1751  this section.
 1752         6. Annuity training courses may be conducted and completed
 1753  by classroom or self-study methods.
 1754         7. Providers of annuity training shall issue certificates
 1755  of completion.
 1756         8. The satisfaction of the training requirements of another
 1757  state that are substantially similar to the provisions of this
 1758  subsection shall be deemed to satisfy the training requirements
 1759  of this subsection in this state.
 1760         9. The satisfaction of the training requirements of any
 1761  course or courses with components substantially similar to the
 1762  provisions of this subsection shall be deemed to satisfy the
 1763  training requirements of this subsection in this state.
 1764         10. An insurer shall verify that an agent has completed the
 1765  annuity training course required under this subsection before
 1766  allowing the agent to sell an annuity product for that insurer.
 1767         (7)(6) RECORDKEEPING.—
 1768         (a) Insurers and agents must maintain or be able to make
 1769  available to the office or department records of the information
 1770  collected from the consumer and other information used in making
 1771  the recommendations that were the basis for insurance
 1772  transactions for 5 years after the insurance transaction is
 1773  completed by the insurer. An insurer may maintain the
 1774  documentation on behalf of its agent.
 1775         (b) Records required to be maintained under this subsection
 1776  may be maintained in paper, photographic, microprocess,
 1777  magnetic, mechanical, or electronic media, or by any process
 1778  that accurately reproduces the actual document.
 1779         (8)(7) COMPLIANCE MITIGATION; PENALTIES.—
 1780         (a) An insurer is responsible for compliance with this
 1781  section. If a violation occurs because of the action or inaction
 1782  of the insurer or its agent which results in harm to a consumer,
 1783  the office may order the insurer to take reasonably appropriate
 1784  corrective action for the consumer and may impose appropriate
 1785  penalties and sanctions.
 1786         (b) The department may order:
 1787         1. An insurance agent to take reasonably appropriate
 1788  corrective action for a consumer harmed by a violation of this
 1789  section by the insurance agent, including monetary restitution
 1790  of penalties or fees incurred by the consumer, and impose
 1791  appropriate penalties and sanctions.
 1792         2. A managing general agency or insurance agency that
 1793  employs or contracts with an insurance agent to sell or solicit
 1794  the sale of annuities to consumers to take reasonably
 1795  appropriate corrective action for a consumer harmed by a
 1796  violation of this section by the insurance agent.
 1797         (c) In addition to any other penalty authorized under
 1798  chapter 626, the department shall order an insurance agent to
 1799  pay restitution to a consumer who has been deprived of money by
 1800  the agent’s misappropriation, conversion, or unlawful
 1801  withholding of moneys belonging to the consumer in the course of
 1802  a transaction involving annuities. The amount of restitution
 1803  required to be paid may not exceed the amount misappropriated,
 1804  converted, or unlawfully withheld. This paragraph does not limit
 1805  or restrict a person’s right to seek other remedies as provided
 1806  by law.
 1807         (d) Any applicable penalty under the Florida Insurance Code
 1808  for a violation of this section shall be reduced or eliminated
 1809  according to a schedule adopted by the office or the department,
 1810  as appropriate, if corrective action for the consumer was taken
 1811  promptly after a violation was discovered.
 1812         (e) A violation of this section does not create or imply a
 1813  private cause of action.
 1814         (9)(8) PROHIBITED CHARGES.—An annuity contract issued to a
 1815  senior consumer age 65 or older may not contain a surrender or
 1816  deferred sales charge for a withdrawal of money from an annuity
 1817  exceeding 10 percent of the amount withdrawn. The charge shall
 1818  be reduced so that no surrender or deferred sales charge exists
 1819  after the end of the 10th policy year or 10 years after the date
 1820  of each premium payment if multiple premiums are paid, whichever
 1821  is later. This subsection does not apply to annuities purchased
 1822  by an accredited investor, as defined in Regulation D as adopted
 1823  by the United States Securities and Exchange Commission, or to
 1824  those annuities specified in paragraph (4)(b).
 1825         (10)(9) RULES.—The department and the commission may adopt
 1826  rules to administer this section. The department may adopt by
 1827  rule the forms prescribed in the National Association of
 1828  Insurance Commissioners Suitability in Annuity Transactions
 1829  Model Regulation Appendix A - Insurance Agent (Producer)
 1830  Disclosure for Annuities, Appendix B - Consumer Refusal to
 1831  Provide Information, and Appendix C - Consumer Decision to
 1832  Purchase an Annuity Not Based on a Recommendation.
 1833         Section 17. Subsection (5) is added to section 627.70132,
 1834  Florida Statutes, to read:
 1835         627.70132 Notice of property insurance claim.—
 1836         (5) For loss assessment claims made under s. 627.714, the
 1837  notice of claim must be given to the insurer in accordance with
 1838  the terms of the policy within 3 years of the date of loss.
 1839         Section 18. Paragraph (b) of subsection (8) of section
 1840  634.041, Florida Statutes, is amended to read:
 1841         634.041 Qualifications for license.—To qualify for and hold
 1842  a license to issue service agreements in this state, a service
 1843  agreement company must be in compliance with this part, with
 1844  applicable rules of the commission, with related sections of the
 1845  Florida Insurance Code, and with its charter powers and must
 1846  comply with the following:
 1847         (8)
 1848         (b) A service agreement company does not have to establish
 1849  and maintain an unearned premium reserve if it secures and
 1850  maintains contractual liability insurance in accordance with the
 1851  following:
 1852         1. Coverage of 100 percent of the claim exposure is
 1853  obtained from an insurer approved by the office, which holds a
 1854  certificate of authority under s. 624.401 to do business within
 1855  this state, or secured through a risk retention group, which is
 1856  authorized to do business within this state under s. 627.943 or
 1857  s. 627.944. Such insurer or risk retention group must maintain a
 1858  surplus as regards policyholders of at least $15 million.
 1859         2. If the service agreement company does not meet its
 1860  contractual obligations, the contractual liability insurance
 1861  policy binds its issuer to pay or cause to be paid to the
 1862  service agreement holder all legitimate claims and cancellation
 1863  refunds for all service agreements issued by the service
 1864  agreement company while the policy was in effect. This
 1865  requirement also applies to those service agreements for which
 1866  no premium has been remitted to the insurer.
 1867         3. If the issuer of the contractual liability policy is
 1868  fulfilling the service agreements covered by the contractual
 1869  liability policy and the service agreement holder cancels the
 1870  service agreement, the issuer must make a full refund of
 1871  unearned premium to the consumer, subject to the cancellation
 1872  fee provisions of s. 634.121(3). The sales representative and
 1873  agent must refund to the contractual liability policy issuer
 1874  their unearned pro rata commission.
 1875         4. The policy may not be canceled, terminated, or
 1876  nonrenewed by the insurer or the service agreement company
 1877  unless a 90-day written notice thereof has been given to the
 1878  office by the insurer before the date of the cancellation,
 1879  termination, or nonrenewal.
 1880         5. The service agreement company must provide the office
 1881  with the claims statistics.
 1882         6. A policy issued in compliance with this paragraph may
 1883  either pay 100 percent of claims as they are incurred, or 100
 1884  percent of claims due in the event of the failure of the service
 1885  agreement company to pay such claims when due.
 1886  
 1887  All funds or premiums remitted to an insurer by a motor vehicle
 1888  service agreement company under this part shall remain in the
 1889  care, custody, and control of the insurer and shall be counted
 1890  as an asset of the insurer; provided, however, this requirement
 1891  does not apply when the insurer and the motor vehicle service
 1892  agreement company are affiliated companies and members of an
 1893  insurance holding company system. If the motor vehicle service
 1894  agreement company chooses to comply with this paragraph but also
 1895  maintains a reserve to pay claims, such reserve shall only be
 1896  considered an asset of the covered motor vehicle service
 1897  agreement company and may not be simultaneously counted as an
 1898  asset of any other entity.
 1899         Section 19. Paragraphs (d), (e), and (f) of subsection (17)
 1900  of section 634.401, Florida Statutes, are amended to read:
 1901         634.401 Definitions.—As used in this part, the term:
 1902         (17) “Manufacturer” means any entity or its affiliate
 1903  which:
 1904         (d) Maintains outstanding debt obligations, if any, rated
 1905  in the top four rating categories by a recognized rating
 1906  service;
 1907         (d)(e) Has and maintains at all times, a minimum net worth
 1908  of at least $100 $10 million as evidenced by certified financial
 1909  statements prepared by an independent certified public
 1910  accountant in accordance with generally accepted accounting
 1911  principles; and
 1912         (e)(f) Is authorized to do business in this state.
 1913         Section 20. Paragraph (a) of subsection (7) of section
 1914  634.406, Florida Statutes, is amended to read:
 1915         634.406 Financial requirements.—
 1916         (7) An association licensed under this part and holding no
 1917  other license under part I or part II of this chapter is not
 1918  required to establish an unearned premium reserve or maintain
 1919  contractual liability insurance and may allow its premiums to
 1920  exceed the ratio to net assets limitation of this section if the
 1921  association complies with the following:
 1922         (a) The association or, if the association is a direct or
 1923  indirect wholly owned subsidiary of a parent corporation, its
 1924  parent corporation has, and maintains at all times, a minimum
 1925  net worth of at least $100 million and provides the office with
 1926  the following:
 1927         1. A copy of the association’s annual audited financial
 1928  statements or the audited consolidated financial statements of
 1929  the association’s parent corporation, prepared by an independent
 1930  certified public accountant in accordance with generally
 1931  accepted accounting principles, which clearly demonstrate the
 1932  net worth of the association or its parent corporation to be
 1933  $100 million and a quarterly written certification to the office
 1934  that such entity continues to maintain the net worth required
 1935  under this paragraph.
 1936         2. The association’s, or its parent corporation’s, Form 10
 1937  K, Form 10-Q, or Form 20-F as filed with the United States
 1938  Securities and Exchange Commission or such other documents
 1939  required to be filed with a recognized stock exchange, which
 1940  shall be provided on a quarterly and annual basis within 10 days
 1941  after the last date each such report must be filed with the
 1942  Securities and Exchange Commission, the National Association of
 1943  Security Dealers Automated Quotation system, or other recognized
 1944  stock exchange.
 1945  
 1946  Failure to timely file the documents required under this
 1947  paragraph may, at the discretion of the office, subject the
 1948  association to suspension or revocation of its license under
 1949  this part. An association or parent corporation demonstrating
 1950  compliance with subparagraphs 1. and 2. must maintain
 1951  outstanding debt obligations, if any, rated in the top four
 1952  rating categories by a recognized rating service.
 1953         Section 21. Except as otherwise expressly provided in this
 1954  act, this act shall take effect July 1, 2023.
 1955  
 1956  ================= T I T L E  A M E N D M E N T ================
 1957  And the title is amended as follows:
 1958         Delete everything before the enacting clause
 1959  and insert:
 1960                        A bill to be entitled                      
 1961         An act relating to consumer protection; amending s.
 1962         494.001, F.S.; revising the definition of the term
 1963         “branch office”; defining the term “remote location”;
 1964         authorizing a licensee under ch. 494, F.S., to allow
 1965         loan originators to work from remote locations if
 1966         specified conditions are met; amending s. 494.0067,
 1967         F.S.; specifying that mortgage lenders may transact
 1968         business from branch offices and remote locations;
 1969         providing a requirement for operating remote
 1970         locations; creating s. 501.2042, F.S.; providing
 1971         requirements for crowd-funding platforms and
 1972         organizers of crowd-funding campaigns related to and
 1973         arising out of declared disasters; amending s. 520.23,
 1974         F.S.; revising disclosure requirements for agreements
 1975         governing the sale or lease of a distributed energy
 1976         generation system; amending s. 560.111, F.S.;
 1977         providing a criminal penalty; amending s. 560.309,
 1978         F.S.; prohibiting a licensee under ch. 560, F.S., from
 1979         cashing corporate checks for certain payees where the
 1980         aggregate face amount exceeds a specified amount;
 1981         amending s. 626.551, F.S.; revising the timeframe in
 1982         which an insurance representative must notify the
 1983         Department of Financial Services of certain changes in
 1984         information; amending s. 626.602, F.S.; providing
 1985         applicability of provisions relating to the
 1986         disapproval of insurance agency names to adjusting
 1987         firm names; revising grounds on which such names may
 1988         be disapproved by the department; deleting an obsolete
 1989         provision; amending s. 626.854, F.S.; revising the
 1990         definition of the term “public adjuster”; prohibiting
 1991         public adjusters from contracting with anyone other
 1992         than the named insured without the insured’s written
 1993         consent; specifying a penalty for noncompliance;
 1994         specifying timeframes in which an insured or a
 1995         claimant may cancel a public adjuster’s contract
 1996         without penalty or contract under certain
 1997         circumstances; revising requirements for public
 1998         adjusters’ contracts; specifying requirements for
 1999         public adjusters if the insurer, within a certain
 2000         timeframe, pays or commits in writing to pay to the
 2001         insured the policy limit of the policy; specifying
 2002         limitations on commissions received by public
 2003         adjusters; amending s. 626.860, F.S.; providing that
 2004         an attorney’s exemption from public adjuster licensure
 2005         requirements does not apply to certain persons;
 2006         amending s. 626.875, F.S.; revising recordkeeping
 2007         requirements for appointed independent adjusters and
 2008         licensed public adjusters; amending s. 626.8796, F.S.;
 2009         revising requirements for public adjuster contracts;
 2010         specifying requirements for and prohibitions on public
 2011         adjusters relating to such contracts; providing
 2012         construction; authorizing the department to adopt
 2013         rules; amending s. 626.8797, F.S.; revising a fraud
 2014         statement requirement in proof-of-loss statements;
 2015         amending s. 626.9541, F.S.; adding an unfair or
 2016         deceptive insurance act relating to health insurance
 2017         policies; amending s. 627.4025, F.S.; revising the
 2018         definition of the term “hurricane,” and defining the
 2019         term “hurricane deductible,” as used in policies
 2020         providing residential coverage; amending s. 627.4133,
 2021         F.S.; revising conditions that apply to a specified
 2022         notice requirement for, and a limitation on, the
 2023         cancellation or termination of certain insurance
 2024         policies; amending s. 627.4554, F.S.; revising
 2025         legislative purpose; revising applicability; revising
 2026         and defining terms; revising and specifying duties of
 2027         insurers and agents relating to the recommendation and
 2028         sale of annuity investments; specifying comparable
 2029         standards that comply with such requirements;
 2030         specifying agent training requirements; providing and
 2031         revising construction; authorizing the department to
 2032         adopt certain forms by rule; amending s. 627.70132,
 2033         F.S.; specifying the period in which notices of loss
 2034         assessment claims under residential condominium unit
 2035         owner coverage must be given to the insurer; amending
 2036         s. 634.041, F.S.; specifying authorized methods of
 2037         paying claims for motor vehicle service agreements;
 2038         amending s. 634.401, F.S.; revising the definition of
 2039         the term “manufacturer” for purposes of part III of
 2040         ch. 634, F.S.; amending s. 634.406, F.S.; deleting a
 2041         debt obligation rating requirement for certain service
 2042         warranty associations or parent corporations;
 2043         providing effective dates.