| 1 | Representative(s) Domino offered the following: |
| 2 |
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| 3 | Amendment (with title amendment) |
| 4 | Remove lines 1099 to 1153 and insert: |
| 5 | 5. Effective July 1, 2008, a personal lines residential |
| 6 | structure that has a dwelling replacement cost of $1 million or |
| 7 | more, or a single condominium unit that has a combined dwelling |
| 8 | and content replacement cost of $1 million or more is not |
| 9 | eligible for coverage by the corporation. Such dwellings insured |
| 10 | by the corporation on June 30, 2008, may continue to be covered |
| 11 | by the corporation until the end of the policy term. However, |
| 12 | such dwellings that are insured by the corporation and become |
| 13 | ineligible for coverage due to the provisions of this |
| 14 | subparagraph may reapply and obtain coverage in the high-risk |
| 15 | account and be considered "nonhomestead property" if the |
| 16 | property owner provides the corporation with a sworn affidavit |
| 17 | from one or more insurance agents, on a form provided by the |
| 18 | corporation, stating that the agents have made their best |
| 19 | efforts to obtain coverage and that the property has been |
| 20 | rejected for coverage by at least one authorized insurer and at |
| 21 | least three surplus lines insurers. If such conditions are met, |
| 22 | the dwelling may be insured by the corporation for up to 3 |
| 23 | years, after which time the dwelling is ineligible for coverage. |
| 24 | The office shall approve the method used by the corporation for |
| 25 | valuing the dwelling replacement cost for the purposes of this |
| 26 | subparagraph. If a policyholder is insured by the corporation |
| 27 | prior to being determined to be ineligible pursuant to this |
| 28 | subparagraph and such policyholder files a lawsuit challenging |
| 29 | the determination, the policyholder may remain insured by the |
| 30 | corporation until the conclusion of the litigation. |
| 31 | 5.6. Effective March 1, 2007, nonhomestead property is not |
| 32 | eligible for coverage by the corporation and is not eligible for |
| 33 | renewal of such coverage unless the property owner provides the |
| 34 | corporation with a sworn affidavit from one or more insurance |
| 35 | agents, on a form provided by the corporation, stating that the |
| 36 | agents have made their best efforts to obtain coverage and that |
| 37 | the property has been rejected for coverage by at least one |
| 38 | authorized insurer and at least three surplus lines insurers. |
| 39 | 6. For properties constructed on or after January 1, 2009, |
| 40 | the corporation shall not insure any property located within 500 |
| 41 | feet seaward or landward of the coastal construction control |
| 42 | line created pursuant to s.161.053 and shall not insure any |
| 43 | property located over 500 to 2,500 feet landward of the coastal |
| 44 | construction control line unless the property meets the |
| 45 | requirements of the code-plus building standards developed by |
| 46 | the Florida Building Commission or the standards contained in |
| 47 | the Miami-Dade Building Code pending the adoption of code-plus |
| 48 | standards by the commission. However, this subparagraph shall |
| 49 | not apply to properties for which a building permit has been |
| 50 | issued on or after January 1, 2008. |
| 51 | 7. It is the intent of the Legislature that policyholders, |
| 52 | applicants, and agents of the corporation receive service and |
| 53 | treatment of the highest possible level but never less than that |
| 54 | generally provided in the voluntary market. It also is intended |
| 55 | that the corporation be held to service standards no less than |
| 56 | those applied to insurers in the voluntary market by the office |
| 57 | with respect to responsiveness, timeliness, customer courtesy, |
| 58 | and overall dealings with policyholders, applicants, or agents |
| 59 | of the corporation. |
| 60 |
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| 61 |
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| 62 | ======= T I T L E A M E N D M E N T ======= |
| 63 | Remove line 57 and insert: |
| 64 | circumstances; providing exceptions; deleting an exclusion from |
| 65 | eligibility for insurance coverage by the corporation for |
| 66 | dwellings with certain minimum replacement costs; requiring that |