Senate Bill sb0594e1

    SB 594                                   First Engrossed (ntc)



  1                      A bill to be entitled

  2         An act relating to motor vehicle insurance;

  3         amending s. 627.7283, F.S.; requiring an

  4         insurer to refund the entire unearned premium

  5         to any member of the armed services who cancels

  6         a policy under certain circumstances; providing

  7         an effective date.

  8  

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

10  

11         Section 1.  Subsection (5) is added to section

12  627.7283, Florida Statutes, to read:

13         627.7283 Cancellation; return of premium.--

14         (5)  The insurer must refund 100 percent of the

15  unearned premium if the insured is a member of the United

16  States Armed Forces, whether an active or reserve member, who

17  cancels because he or she is called to active duty or

18  transferred by the United States Armed Forces to a location

19  where the insurance is not required.  The insurer may require

20  a member of the United States Armed Forces to submit either a

21  copy of the official military orders or a written verification

22  signed by the member's commanding officer to support the

23  refund authorized under this subsection. If the insurer

24  cancels, the insurer must refund 100 percent of the unearned

25  premium.  Cancellation is without prejudice to any claim

26  originating prior to the effective date of the cancellation.

27  For purposes of this section, unearned premiums must be

28  computed on a pro rata basis.

29         Section 2.  This act shall take effect upon becoming a

30  law.

31  


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CODING: Words stricken are deletions; words underlined are additions.