House Bill 0527e1

                                           HB 527, First Engrossed



  1                      A bill to be entitled

  2         An act relating to insurance; subjecting

  3         certain industrial life insurance policies to

  4         the Florida Insurance Code and rules adopted

  5         under the code; requiring insurers to disclose

  6         certain information to policyholders or premium

  7         payors by a specified date under certain

  8         circumstances; providing an effective date.

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10  Be It Enacted by the Legislature of the State of Florida:

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12         Section 1.  Industrial life insurance; application;

13  disclosure.--

14         (1)  Each policy of industrial life insurance in effect

15  before October 1, 2000, is subject to all applicable

16  provisions of the Florida Insurance Code and rules adopted

17  under the code.

18         (2)  Upon receipt of a written request no later than

19  January 1, 2001, each insurer that currently collects premiums

20  in this state for a policy of industrial life insurance must

21  disclose, on or before March 2001, to the policyholder or

22  premium payor the total amount of premiums paid, the cash

23  value, and the amount of the death benefits payable under the

24  policy. The insurer shall deliver a form to the premium payor

25  or policyholder to request the disclosure on or before

26  November 1, 2000.

27         Section 2.  This act shall take effect October 1, 2000.

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