Florida Senate - 2009                        COMMITTEE AMENDMENT
       Bill No. SB 1894
       
       
       
       
       
       
                                Barcode 363098                          
       
                              LEGISLATIVE ACTION                        
                    Senate             .             House              
                  Comm: FAV            .                                
                  03/25/2009           .                                
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       The Committee on Banking and Insurance (Ring) recommended the
       following:
       
    1         Senate Substitute for Amendment (923128) (with title
    2  amendment)
    3  
    4         Delete lines 13 - 16
    5  and insert:
    6         (4) Except for ss. 627.4035, 627.4133, 627.4137, 627.420,
    7  627.426, 627.428, 627.701(1), 627.701(4), 627.70131(5), 627.702,
    8  and 627.7283, and except as may be specifically stated to apply
    9  to surplus lines insurers, the provisions of chapter 627 do not
   10  apply to surplus lines insurance authorized under ss. 626.913
   11  626.937, the Surplus Lines Law.
   12         Section 2. Section 626.924, Florida Statutes, is amended to
   13  read:
   14         626.924 Information required on contract.—Each surplus
   15  lines agent through whom a surplus lines coverage is procured
   16  shall write or print on the outside of the policy and on any
   17  certificate, cover note, or other confirmation of the insurance
   18  his or her name, address, and identification number and the name
   19  and address of the producing agent through whom the business
   20  originated and shall have stamped or printed on the face of the
   21  policy in contrasting color and not less than 14-point type, the
   22  following statements written upon the first page of the policy
   23  or the certificate, cover note, or confirmation of insurance the
   24  words: THIS INSURANCE IS ISSUED PURSUANT TO THE FLORIDA SURPLUS
   25  LINES LAW. SURPLUS LINES INSURANCE IS EXEMPT FROM CERTAIN
   26  FLORIDA LAWS DESIGNED TO PROTECT INDIVIDUAL AND BUSINESS
   27  INSURANCE POLICYHOLDERS. SURPLUS LINES CARRIERS’ POLICY RATES
   28  AND FORMS, INCLUDING HOMEOWNER AND COMMERCIAL PROPERTY POLICIES,
   29  ARE NOT APPROVED BY ANY FLORIDA REGULATORY AGENCY. PERSONS
   30  INSURED BY SURPLUS LINES CARRIERS DO NOT HAVE THE PROTECTION OF
   31  THE FLORIDA INSURANCE GUARANTY ACT TO THE EXTENT OF ANY RIGHT OF
   32  RECOVERY FOR THE OBLIGATION OF AN INSOLVENT UNLICENSED INSURER.
   33  
   34  
   35  ================= T I T L E  A M E N D M E N T ================
   36         And the title is amended as follows:
   37         Delete lines 4 - 5
   38  and insert:
   39         provisions of law to surplus lines insurers; amending
   40         s. 626.924, F.S.; requiring that certain statements be
   41         printed on the face of an insurance policy; providing
   42         for