CODING: Words stricken are deletions; words underlined are additions.
HOUSE AMENDMENT
Bill No. CS for SB 1822, 1st Eng.
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) Alexander offered the following:
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13 Amendment
14 On page 4, between lines 4 and 5 of the bill
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16 insert:
17 Section 4. Section 626.926, Florida Statutes, is
18 amended to read:
19 626.926 Liability of insurer as to losses and unearned
20 premiums.--
21 (1) If an unauthorized insurer or a person authorized
22 by it has bound the risk as to a surplus lines coverage placed
23 under this Surplus Lines Law, and if the premium therefor has
24 been received by the surplus lines agent or originating agent
25 who placed such insurance, then in all questions thereafter
26 arising under the coverage as between the insurer and the
27 insured, the insurer shall be deemed to have received the
28 premium due to it for such coverage; and the insurer shall be
29 liable to the insured as to losses covered by such insurance,
30 and for unearned premiums which may become payable to the
31 insured upon cancellation of such insurance, whether or not in
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File original & 9 copies 03/22/02
hec0002 08:56 am 01822-0066-261697
HOUSE AMENDMENT
Bill No. CS for SB 1822, 1st Eng.
Amendment No. ___ (for drafter's use only)
1 fact the surplus lines agent is indebted to the insurer with
2 respect to such insurance or for any other cause. However, if
3 the premium is financed and the surplus lines insurer or the
4 surplus lines agent does not receive the premium, the surplus
5 lines insurer may cancel the policy pursuant to s. 626.9201.
6 (2) Each unauthorized insurer assuming a surplus lines
7 direct risk under this Surplus Lines Law shall be deemed
8 thereby to have subjected itself to the terms of this section.
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12 And the title is amended as follows:
13 On page 1, line 12 after the word and semicolon
14 "application;"
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17 insert:
18 amending s. 626.926, F.S.; providing
19 circumstances under which a surplus lines
20 insurer may cancel a policy;
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File original & 9 copies 03/22/02
hec0002 08:56 am 01822-0066-261697