Florida Senate - 2007                        SENATOR AMENDMENT
    Bill No. HB 7077, 2nd Eng.
                        Barcode 132268
                            CHAMBER ACTION
              Senate                               House
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       05/02/2007 12:58 PM         .                    
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11  Senators Atwater and Deutch moved the following amendment:
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13         Senate Amendment (with title amendment) 
14         Lines 2098-2116, delete those lines
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16  and insert:  
17         (5)  Within 90 days after an insurer receives notice of
18  a property insurance claim from a policyholder under a policy
19  providing residential coverage as defined in s. 627.4025, the
20  insurer shall pay or deny such claim or a portion of the claim
21  unless the failure to pay such claim or a portion of the claim
22  is caused by factors beyond the control of the insurer which
23  reasonably prevent such payment. Any payment of a claim or
24  portion of a claim paid 90 days after the insurer receives
25  notice of the claim, or paid more than 15 days after there are
26  no longer factors beyond the control of the insurer which
27  reasonably prevented such payment, whichever is later, bears
28  interest at the rate set forth in s. 55.03. Interest accrues
29  from the date the insurer receives notice of the claim. The
30  provisions of this subsection may not be waived, voided, or
31  nullified by the terms of the insurance policy. If there is a
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    Florida Senate - 2007                        SENATOR AMENDMENT
    Bill No. HB 7077, 2nd Eng.
                        Barcode 132268
 1  right to prejudgment interest, the insured shall select
 2  whether to receive prejudgment interest or interest under this
 3  subsection. Interest is payable when the claim or portion of
 4  the claim is paid. Failure to comply with this subsection
 5  constitutes a violation of this code.
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 8  ================ T I T L E   A M E N D M E N T ===============
 9  And the title is amended as follows:
10         Lines 52-58, delete those lines
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12  and insert:
13         claim requirements; providing requirements for
14         payment of interest on overdue claims;
15         prohibiting contractual waivers, voidances, or
16         nullifications; amending s.
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