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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  5                                           ORIGINAL STAMP BELOW

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11  Representative(s) Brown offered the following:

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13         Amendment (with title amendment) 

14         On page 1, line 15,

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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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22  ================ T I T L E   A M E N D M E N T ===============

23  And the title is amended as follows:

24         On page 1, line 2, after the semicolon,

25

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