CODING: Words stricken are deletions; words underlined are additions.
HOUSE AMENDMENT
hbd-032 Bill No. CS for SB 1362
Amendment No. ___ (for drafter's use only)
CHAMBER ACTION
Senate House
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11 Representative(s) Brown offered the following:
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13 Amendment (with title amendment)
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16 insert:
17 Section 1. Section 627.7283, Florida Statutes, is
18 amended to read:
19 627.7283 Cancellation; return of premium.--
20 (1) If the insured or insurer cancels a policy of
21 motor vehicle insurance, the insurer must mail return the
22 unearned portion of any premium paid within 30 days after the
23 effective date of the policy cancellation or receipt of notice
24 or request for cancellation, whichever is later. This
25 requirement applies to a cancellation initiated by an insured
26 for any reason. issuance or receipt by the insurer of notice
27 of cancellation. If the unearned premium is not returned
28 within the 30-day period, the insurer must pay 8 percent
29 interest on the amount due. If the unearned premium is not
30 returned within 45 days after receipt of the notice, the
31 insured may bring an action against the insurer pursuant to s.
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File original & 9 copies 03/19/02
hbd0022 05:18 pm 01362-0005-083709
HOUSE AMENDMENT
hbd-032 Bill No. CS for SB 1362
Amendment No. ___ (for drafter's use only)
1 624.155.
2 (2) If an insurer cancels a policy of motor vehicle
3 insurance, the insurer must mail the unearned premium portion
4 of any premium within 15 days after the effective date of the
5 policy cancellation.
6 (3) If the unearned premium is not mailed within the
7 applicable period, the insurer must pay to the insured 8
8 percent interest on the amount due. If the unearned premium is
9 not mailed within 45 days after the applicable period, the
10 insured may bring an action against the insurer pursuant to s.
11 624.155.
12 (4)(2) If the insured cancels, the insurer may retain
13 up to 10 percent of the unearned premium and must refund at
14 least 90 percent of the unearned premium. If the insurer
15 cancels, the insurer must refund 100 percent of the unearned
16 premium. Cancellation is without prejudice to any claim
17 originating prior to the effective date of the cancellation.
18 For purposes of this section, unearned premiums must be
19 computed on a pro rata basis.
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23 And the title is amended as follows:
24 On page 1, line 2, after the semicolon,
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26 insert:
27 amending s. 627.7283, F.S.; revising criteria
28 and procedures for cancellation of a motor
29 vehicle insurance policy; providing for return
30 of unearned premium under certain
31 circumstances; providing for interest under
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File original & 9 copies 03/19/02
hbd0022 05:18 pm 01362-0005-083709
HOUSE AMENDMENT
hbd-032 Bill No. CS for SB 1362
Amendment No. ___ (for drafter's use only)
1 certain circumstances; providing for civil
2 action under certain circumstances;
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File original & 9 copies 03/19/02
hbd0022 05:18 pm 01362-0005-083709